Word: corpe
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Dates: during 1950-1959
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Though ODM's decision sorely disappointed steelmakers, there were few cries of real alarm. Bethlehem Steel Corp. and Youngstown Sheet and Tube Co. announced that they would review expansion plans; Jones & Laughlin Steel Corp. said that it would be forced to reappraise plans for a new $250 million mill planned for Houston. But most steelmen had already decided that they have to expand one way or another to meet their growing markets. Republic Steel Corp. will still continue with its $187 million expansion program; so will Pittsburgh Steel Co., National Steel Corp., Armco Steel Corp. and Inland Steel...
...annually for 25 years, until eventually it recovers the full original cost. An obvious flaw in the system is that it makes no allowance for the speeded-up obsolescence caused by the billions going into new product research. As President William G. Laffer of Cleveland's Clevite Corp. says: "In electronics, for example, where there is a fast-changing technology, equipment is frequently outdated as soon as it is designed," and every industry, from aviation to petrochemicals, is learning that five years is frequently the maximum instead of the minimum productive life for a new piece of industrial equipment...
AMERICAN PETROFINA, U.S. subsidiary of Belgium's biggest oil company, is buying heavily into Southwest oil industry, will pay $34 million for Dallas' American Liberty Oil Co. Coming on top of Petrofina's recent purchase of Panhandle Oil Corp. (TIME, June 25), deal will pump American Petrofina's assets up to $90 million, including 500 retail outlets in Texas and Oklahoma...
Like Allen, thoughtful businessmen in industry after industry, from farm machines to appliances, see few limits to the products they can sell. "A million new families are being formed every year," says an Admiral Corp. official, "and normal replacement on top of that gives us our market." The same 1,000,000 families, plus the fact that 300,000 houses are torn down and must be replaced each year, should give housebuilders a continuing market of 1,300,000 new houses annually a few years from...
...Manhattan journalists, jittery over the folding of Collier's and Woman's Home Companion (see below), the news at first seemed a possible cause for concern. McCall Corp., publishers of McCall's and Redbook, announced a 50% cut in its quarterly dividends from 30? to 15?. Though McCall's revenue was up $6,000,000 in the first nine months (to $46,116,539), earnings were down 16% to $758,276. McCall said it was saving cash "to finance future growth." What the company did not say was that the dividend cut was the work...