Word: foerstner
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...income, way of life. The new corporation, despite the Depression, promptly raised production of farm products, furniture and handmade textiles (1958 sales: $10 million). Profits replaced red ink the first year, rose to levels ($268,000 in 1958) that provided plow-back capital and paid dividends. Mechanic George Foerstner, who designed the colony's beer coolers, began making refrigerators and home freezers, and bought radio-TV time to sell the wares. By 1950, when his business got big enough to need more capital, he got Iowa financiers to pay Amana $1,750,000 for the plant. The money helped...
...community. Members bought their homes from the society and installed private kitchens. They went to work for wages in one of the society's 50 businesses, e.g., the woolen mill, furniture factory, open-hearth bakery, or the new refrigerator plant founded by profit-minded young Amanist George C. Foerstner...
...display cases, pioneered in freezers and air-conditioning equipment. By the end of World War II, Amana's leading line, a $500 home freezer, was being sold in nearly 5,000 retail outlets, backed by national advertising. By last year, the refrigerator plant, still run by Foerstner, employed 350 workers in the peak season (including non-Amanists), and grossed nearly $3,000,000. Such capitalistic prosperity proved too frightening to the 1,500 Amanists...
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