Word: edisonizing
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...responsive to more needs of society than its material requirements," says Frank Abrams, retired Standard Oil Co. (N.J.) chairman, who spends at least two days each week on civic projects. But partly, too, the new civic-mindedness is just good hardheaded business sense. Chicago's Commonwealth Edison Co., for example, spent more than $5,000,000 after World War II on promotion to bring some 1,000 new plants to the area, all of which helped Commonwealth as well...
...companies increase their civic work, the heaviest load inevitably falls on the president himself. Just as he has the know-how, energy and contacts to make his business succeed, so is he invaluable to civic projects. Republic Steel's President Thomas F. Patton, Detroit Edison's President Walker L. Cisler, Chairman Laurence Whittemore of New England papermaker Brown Co., give anywhere from 10% to 30% of their time to civic projects. In Los Angeles, Hardwareman-Banker Vic Carter was so busy that he either had to cut down his civic activities or his business. His choice: to sell...
...manufacture more nuclear fuel than it consumes will be built near Monroe, Mich, by Detroit's Power Reactor Development Corp., a group of 26 industrial firms and private utilities. Power generated by the $40.5 million, 100,000-kw., "fast neutron breeder plant" will be distributed by Detroit Edison Co. AEC, which has made only small-scale fast breeders, stipulated that the company must show its plant is safe before getting operating permit...
...true creative thinking. We have become a nation of improvers, adjusters, takers-apart, putters-together, dissectors, bisectors, inspectors, assemblers and reassemblers. The average American proudly thumps his breast, pointing with complacency to our vast quantity of technologically "superior" wealth. Where are the minds to match the intellectual curiosity of Edison, Marconi, Alexander Bell, Henry Ford or the Wright brothers...
While U.S. progress might be faster, the faults are not private industry's. It took 13 months from the time Consolidated Edison started negotiations with AEC to build a privately financed reactor before the AEC came through with the construction permit. Today, most private companies are still waiting on such essential Government actions as: 1) Government reinsurance to protect private companies against catastrophic damages from a reactor accident, 2) amendment of the Public Utility Holding Company Act to permit individual companies to club together to raise the huge sums necessary to build atomic reactors, 3) a Treasury ruling that...