Word: heintz
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...Carefully worded "merger" announcements befogged and nearly obscured the real news: Cleveland's famed William S. Jack and Ralph M. Heintz had sold out their wildly unorthodox war baby...
...investment, Jack & Heintz, Inc., piled up wartime profits of $6 million (after taxes) by making high-quality plane parts for the Army & Navy. It also piled up heaps of news clips by jubilantly giving "associates" (i.e., employes) huge bonuses, free lunches, soft music, Turkish baths, Florida vacations. But the end of the war and the dry-up of the U.S. Government's golden flood was almost the end of Jahco...
When blatant, sport-shirted President Bill Jack and quiet Vice President Ralph Heintz picked up the pieces, they found that Jahco's prime remaining asset was its ballyhooed name. What to do? Announcement No. 1 gave the first step: Jahco had "merged" with "Precision Products Corp." to form Jack & Heintz Precision Industries, Inc. Bill Jack, keeping a straight face behind the impressive whiskers of the new company's board chairmanship, labeled this "the first step in a postwar expansion program...
Like many another war baby, Cleve land's loudly self-advertised Jack & Heintz, Inc. was knocked flat Tby war's hurried exit. But last week Jahco was getting back on its feet. There were some 2,000 old associates (employes) back at work, and short, sport-shirted President William S. Jack was rehiring at the rate of 1,000 a month. Most of the old benefits, soft music, free lunches, etc. were still in force, except one. Take-home pay had been cut 53%, though Bill Jack said pay will still average $2,900 a year...
...item which Jahco thinks has turned the trick is a two-cylinder, 30-h.p., air-cooled engine for light cars. Designed by Vice President Ralph Heintz, the cylinders, cylinder head and crankshaft are die-cast from aluminum alloy. The engine weighs 175 pounds less than similar engines, yet produces the same power. Jahco expects to make four-and six-cylinder models for planes and boats...