Word: fleetly
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Dates: during 1950-1959
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...merely won a great battle in the Pacific and averted a great disaster: The U.S. had proved its skill and might in a new form of warfare at sea. For, in the Battle of Midway, U.S. forces met and drove back the first full battle fleet, organized on the grand scale for modern war, which any nation has yet put to sea." So said TIME (June 15, 1942), sizing up a naval battle just fought off Midway Island in the Pacific. This week, on the 18th anniversary of the battle, TIME takes another look, adds Midway to the list...
...plan: to get aboard the "peace fleet" that the Japan Council Against Atomic and Hydrogen Bombs proposes to send into the danger area when Britain explodes its first hydrogen bomb at Christmas Island this summer. "I willingly sacrifice myself to prove to the world the horror of this devilish thing," he declared to reporters. Warned that the peace fleet may not sail for lack of funds, Steele replied: "Then I will sail alone into the Christmas Island area. Or perhaps I could get some vessel to drop me on an atoll in the area, where I could...
Capital & Taxes. The big reason why leasing can be more profitable is that it frees working capital to bring in more earnings. Pennsylvania's Anchor Sanitary Co., for example, found it could make more money by leasing its delivery fleet and using the cash, which it formerly tied up in truck ownership, to buy inventory (plumbing supplies). The bigger inventory turned over seven times yearly and brought a 35% return. Anchor Sanitary paid out about one-seventh of these new profits to lease forklift trucks, salesmen's cars, even office equipment...
Plus Equals Minus. Capital was in such trouble, said President J. H. ("Slim") Carmichael, that it will have to "defer" a $60 million order for 14 British-built Comet jetliners and 15 Viscount turboprops that it hoped to add to its fleet. Some of the planes were already coming off the production line, freshly painted with Capital markings; now they will go to other lines until Capital's finances are in better shape. While Capital had increased its operating revenues by 62% to $19.2 million for the quarter, said Carmichael, rising costs, coupled with bad winter flying weather, which...
...down $12 and rented a baby buggy for three months. In San Francisco a businessman was negotiating to rent two four-engined planes, worth $4,500,000, through Commercial-Pacific Corp. In Pittsburgh a shipper was dickering with National Equipment Leasing Corp. to rent a 15-tanker fleet costing $126 million. On land, sea and air there is a nationwide boom in equipment leasing, and rental companies are sprouting across the U.S. to supply everything from oil barges to a fleet of diesel engines, a complete rolling mill or a city power plant...