Word: corp
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Dates: during 1960-1969
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...willing to transfer millions of dollars from other NASA programs into manned space flight." Thus, Holmes has no choice but to cut back his program. Last week the signs of that cutback were obvious in space centers across the U.S.: » In St. Louis, at McDonnell Aircraft Corp., makers of the Mercury and Gemini space capsules, strict limits have been set against overtime work. » In Maryland the Martin Marietta Corp. has laid off 225 men who were working on the Titan II booster, the rocket that will launch Gemini. » In Houston, home of the Manned Spacecraft Center...
Every year, the small auto finance companies that make up the American Finance Conference kick off their annual convention with a blast against their special foe: giant General Motors Acceptance Corp., the sales finance subsidiary of General Motors. They kicked again last week in Washington, and with new fury. Unless G.M.A.C. is quickly curbed, complained Richard Meier, chair man of the A.F.C. executive committee, there may soon be no "independents" left. In the past five years, says Meier, the number of independent auto finance companies has shrunk from...
...takes a large finance company to be able to raise capital cheaply enough to lend it out at rates competitive with those the banks can offer. As a result, many small companies have been absorbed in mergers. A.F.C.'s Meier concedes that his own Interstate Finance Corp. of Evansville, Ind., has "taken in from 25 to 50 companies by merger" since it started 42 years ago. And even though the independents' share of car financing has dropped from 29% to 17% since 1955, they are really not doing so badly: in the same period, their total loans outstanding...
Most small U.S. companies live with the uneasy knowledge that at any moment their traditional markets may be snatched away by an advanced new product developed in the research laboratories of some corporate giant. Ten years ago this nightmare came true for Brooklyn's Old Town Corp. A modestly successful manufacturer of carbon paper, typewriter ribbons and duplicating products, Old Town suddenly found its bigger competitors selling radically improved typewriter ribbons and speedy office photocopy machines that sharply reduced the demand for carbon paper. Helplessly the firm watched its business slip, until in 1960 it lost...
Embarrassed by having to report to British taxpayers on the profitless sputterings of British Overseas Airways Corp. its chairman, Sir Matthew Slattery a retired admiral, exploded like the old salt he is: "I have taken the opportunity of my first full year as chairman of the corporation to point out that I think its financial structure and the way it's expected to operate is just bloody crazy...