Word: coiled
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Four Letters. Advertising Manager Richard Pfar, 21, explained their choice of the call letters WKGR: they had gone over a listing of U.S. stations and picked four letters that didn't conflict with any others. Program Director Floyd Coil, 18, and Business Manager Curt Scheiderer, 22, added that they had thought all you had to do to start a business in the U.S. was start...
Thus Glenn Edward Swanson, a slim, nervous man with an autocratic air and computer-like mind, described how he got into the coil business in a Chicago loft 15 years ago. In its first year, his Standard Coil Products Co. barely broke even. Five years later, it was worth only $16,000. But by last week, Standard Coil was the biggest U.S. maker of television coils and tuners. On a gross of $24 million in the first nine months of 1950, the company netted $4,000,000, after provision for taxes...
Promise to Pay. Much of this rocketing growth was due to the booming television industry; Standard Coil supplies parts for 40% of all TV sets produced in the U.S. But even more was due to the resourceful financing and engineering brains of President Swanson, 43, who with two partners owns 75% of the company's stock. A onetime Indiana farm boy, Swanson married at 18, had to go to work instead of college. He moved from one Chicago radio manufacturer to another, studied electronics at night school. By the time he was 23, he was a top design engineer...
Swanson started Standard Coil in 1935 with $1,650 in savings. Later, he lured two partners in, by virtue of "my extreme good looks, my charming personality and my promise that it would pay." Thanks to his knack for production and contacts in the radio field, he kept the promise...
...Phony Recession." He cut the price to $16 (v. $22 for other makes), successfully bucked the competition of established companies. Swanson discounted 1949's "phony recession," doubled his payroll and tripled production. Thus when the 1950 TV boom came along, Standard Coil cashed...