Word: gm
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Dates: during 1950-1959
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...effort is expensive, and, as scholarship programs go, inefficient. This year 20,000 high school seniors spent six dollars apiece for Scholastic Aptitude Tests. On May 1, GM will notify the 100 winners that they get an average of $4,000 over the next four years to finance their college education. In other words, the students threw $120,000 into the pot for tests, GM threw a comparable amount in for publicity, and out came $400,000 for scholarships...
...McFarland, a GM executive who studies the success of his prodigies, reports that the twenty at Harvard are doing as well as other scholarship students, but not substantially better. The national contest has been so far, little more effective than the less expensive college-administered plans. Some students of college ability, who would not have gone without GM awards, may be in college now. But the high administrative cost of these scholarships means that fewer students benefit from the funds...
Mechanics Mark. Porsche and his son Ferdinand Jr. launched their sports-car factory at Gmünd, Austria in 1949, with $50,000 in capital and a first model featuring a souped-up Volkswagen engine, produced only 50 cars in their first year. In 1950 they moved into a former barracks at Stuttgart, developed a series of hand-tooled, air-cooled engines that range today from 44 to 115 h.p., and expanded to the present line of 16 models. The elder Porsche died in 1951, but sales continued to climb under the direction of son Ferry, a square-faced...
...assembly lines. In the industry's previous peak year (1950) No. 3,000,000 was not turned out until late June. At this rate, said General Motors Chief Harlow Curtice, 1955 "could well be the biggest passenger-car year in the history of the automotive industry." GM reported that April was the best month, and 1955's first four months were the best for production and sales of new and used autos in the annals of the corporation...
...GM program, announced earlier this term, provides for assistance to the 100 most qualified applicants, in sums ranging from $200 to 2,000 per year. In addition, all winners will carry with them a grant of $500 to $800 which will go directly to the schools they choose...