Word: halseyisms
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Dates: during 1940-1949
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...Pacific moon saw what the Jap had never thought to see. Spaced along a 200-mile ocean front, from the Marshall to the Gilbert Islands, was an assault force of U.S. cruisers, destroyers and aircraft carriers, led by a blue-water sailor and naval flyer, Vice Admiral William Frederick Halsey Jr. (see cut, p. 23). They were ready to strike the Jap in his stolen strongholds-2,300 miles from Pearl Harbor, but nearest of all his bastions to Hawaii...
Charles Bedaux in 1916 started efficiency engineering where famed Frederick Taylor and the Halsey systems left off. His engineers made their time & motion studies hiding behind pillars with stop watches. They frequently drew up recommendations without consulting even foremen, installed bonus systems which went 75% to the worker, 25% to supervisors as an incentive to push the men. Their standard "B unit," basis of pay, became hated by labor because it was increased as output rose, so that bonuses became harder & harder to earn while basic pay remained unchanged. Says Albert Ramond: ". . . We were far from blameless. We left...
...outcome of the bidding settled three bitter arguments: 1) competitive bidding is not, as its proponents had claimed, in itself the way to give the little investor a share in prime new security issues; 2) Halsey, Stuart answered its own contention that competition means higher prices to the issuing company by offering the lowest bid of the lot; 3) private placement won the competitive bidding argument without even engaging...
...Sept. 15) A.T. & T. got in step with the trend SEC had set for utility holding companies, announced it would ask for competitive bids on $90,000,000 of new 2¾% debentures. The three bidders that grabbed for this gold-plated bait: 1) No. 1 proponent of competition, Halsey, Stuart (in association with Mellon Securities); 2) No. 1 opponent (and A.T. & T.'s longtime banker) Morgan Stanley; 3) archenemy of all underwriters, the "private placement" boys, in the person of three big life insurance companies (represented by Mutual Life of New York). The winner: private placement, with...
Coach: William A. Halsey...