Word: forde
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Dates: during 1940-1949
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...years, the Ford Motor Co. has by tradition been closemouthed about its profits & losses. Last week, before the Jefferson City, Mo. Chamber of Commerce, Ford's executive vice president, Ernest Robert Breech, broke with tradition. He announced that Ford's loss for the first nine months of 1946 was a whopping $51,600,000 (if this figure still stands at year's end, tax rebates would cut this down to $32,900,000). Reasons: wage increases, shortages, suppliers' strikes...
...added, "We are going to have to earn back these losses before we can do many things we would like to do-things like retirement plans and plans for more stabilized employment"-and expansion. One of the things shelved, along with the new, cheaper Ford, was the $50,000,000 research and engineering laboratory...
With millions going down the drain, young Henry Ford's new team was trying, among other things, to plug the holes by saving pennies. And most of the penny-pinching was being done by Vice-President and Purchasing Agent Albert Jesse Browning (TIME, May 6), who learned about Detroit production as No. 2 Army procurement officer during...
Stripping down a car to the thousands of parts Ford buys from suppliers, Browning took a long, hard look at the pieces. That nickel-plated horn button emblem, couldn't that be replaced with a painted emblem? It could and would be. Savings: 8.9? per item; total saved...
...Buying nearer to assembly operations; Ford's Fargo, N. Dak. plant will henceforth get batteries from Minneapolis instead of from Indianapolis. Savings in shipping charges...