Word: heintz
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...pact. It is necessary only to look at the quotations on the New York Stock Exchange (lowest in seven years) to see that business as a whole is not profiteering. But there are always exceptions. Certainly no party to any non-profiteering covenant, written or tacit, was Jack & Heintz, Inc., of Bedford, Ohio, manufacturers of airplane starters...
President William S. Jack was generous. Starting in 1941 at $25,000 a year for himself, Mr. Jack got $145,854.23 before the year was out. His basic pay and the basic pay of son William Jr., and of Ralph M. Heintz (co-owners): $100,000 each. "We were only making sure that we wouldn't go broke," explained Mr. Jack...
...went broke at Jack & Heintz. The assistant controller, who had left a $2,300 job got a salary of $4,800 and, to his "complete surprise" a bonus of $10,000 after less than two months. The controller got a $7,500 salary; with bonuses made $25,153.32 in 1941. Other employe bonuses, records showed, added up to some $600,000. Mr. Jack held monthly banquets, gave double-time pay for Saturdays. Last Christmas everyone got a wrist watch, a $2,500 insurance policy, and cash presents ranging from...
Another munitions-maker, Jack & Heintz, Inc. of Cleveland, also paid a remarkable bonus last week: $650,000 to 800 employes. J. & H., like Beech, is no ordinary plant. Started a year ago by ex-union business agent William S. Jack, 53, it already has $20,000,000 in Government orders, mostly for aircraft starter assemblies. All employes are called "associates." They punch no time clocks, get monthly bonuses averaging $30, free coffee, jazz music four hours daily, free hamburgers every Wednesday, will soon get free grub from a company cafeteria...
Equipment. About 15,000 molds are scattered throughout the U.S., most of them in good condition. Manufactured by such concerns as James C. Heintz & Co., of Cleveland, and Super Mold Corp., of Lodi, Calif., they need aluminum and iron for matrixes which form the treads in the molds. Production this year zoomed 60 to 100%, seems doomed to level off sharply unless priorities are granted...