Word: costs
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Dates: during 1940-1949
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...most cogent argument against expansion was that it now costs an estimated $300 to add one ton of new capacity for finished steel (v. $75 prewar). Yet tax allowances for depreciation do not take the high replacement cost into account. For example, much of the cash being put in U.S. Steel's depreciation reserve has come out of profits and, as such, is taxable...
Even New Dealing, rebellious Henry Kaiser, who believes in maximum expansion (he is currently spending upwards of $45 million on Fontana alone), agreed with other steelmen that the key to more expansion is the quicker-or more realistic-write-off of its cost. In lieu of that, Kaiser has adopted his own harsh substitute. He raised the price of his Fontana steel $30 a ton to apply against the Government debt on his plant...
Wound Down. Guilden junked Waltham's method of selling through jobbers, in favor of direct sales to dealers, which saddled it with heavy new selling costs (and caused disgruntled jobbers to knock Waltham). He also threw out such .sidelines as speedometers, and discontinued cheap watches, to concentrate on expensive timepieces. Furthermore, his plant-like many in New England-was old and inefficient; his workers had had their wages almost tripled in seven years (78% of the cost of a watch is in labor), without a rise in productivity to make...
Down Prices, Down Pay. Cleveland's Lincoln Electric Co., whose wages are tied to living costs, cut the pay of its 1,089 workers by 2½% to 3% to match the recent drop in the cost of living. The employees could afford it: under its incentive payment plan, Lincoln Electric, only two weeks before, had given out bonuses oi $3,821,973, equal to 104% of the annual payroll...
...illegally trading on the reputation of Philadelphia's Fayette R. Plumb, Inc. (TIME, Dec. 6), reopened-with a new trademark. Instead of "Plomb," it was now "Proto." Plomb President Morris Pendleton, who is appealing the decision, said the new trademark was just a temporary expedient (estimated cost: $130,000) to resume business. "We have been handed a lemon," said he, "so we are making lemonade...