Word: contract
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Dates: during 1950-1959
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...other side of the coin is that long-term contracts often cost more than they are worth. Insiders say that General Electric thinks it paid too dearly for the five-year contract that it happily signed with the International Union of Electrical Workers in 1955's boom year, now wants no more long-term pacts. Union Carbide also signed its first long-term contracts in 1955-for three years-and once was enough. Labor costs have jumped most in precisely the areas where profits declined most. Last April, Union Carbide's contracts compelled it to hike wages...
Deus ex Machina. His wartime success got Jack a job in Hollywood shortly after he came home. RKO and later 20th Century-Fox put him under contract but rarely got around to putting him in front of a camera (he did once play opposite an unheard-of starlet named Marilyn Monroe). In 1947 he was hired as the summer replacement on NBC-Radio's Jack Benny Show. His fresh, natural style was a success, and in the fall American Tobacco put the Jack Paar Show on the air on ABC. It lasted until Christmas Eve. In his radio days...
Sears, Roebuck & Co. last week announced plans to sell a $350 million bond issue, the largest industrial bond offering in U.S. history. But before signing a contract with its underwriters, Sears said it wanted to take a careful look at conditions in the bond market. What particularly alarmed Sears and other prospective corporate-bond issuers was the situation in U.S. bonds. After a year-long rise, Government bonds were going through the fastest, worst shakedown in postwar history, causing dealers to employ such expressions as ''chaos," "rout" and "panic...
...recession is not entirely curing itself. The Government has given sizable help. Military spending rose from an annual rate of $8.5 billion in the third quarter of last year to more than $20 billion in the second quarter of 1958; equally important, contract letting was speeded up, causing contractors to go out right away and hire men, add equipment. Congress stimulated housing construction by giving an extra $1.9 billion to Fannie May (actually more than the Administration had asked for), provided extra unemployment benefits for an average of 13 weeks to those who had exhausted their regular benefits. The Government...
...Sonnabend got ready, Curtiss-Wright, which had hoped to work the same kind of rescue operation for Studebaker, prepared to move out. Two years ago Curtiss-Wright got a management contract to run Studebaker, plus an option to buy 5,000,000 shares of stock at $5 a share (which runs out this November), plus the chance of merging Studebaker into Curtiss-Wright if it could cut Studebaker's huge losses. But Curtiss-Wright had no success. Fortnight ago Studebaker reported that its losses in the first six months of this year soared to $13,314,165, almost double...