Word: hotpoint
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Dates: during 1950-1959
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Like the low man on a totem pole, Ozzie, 46, carries most of the load. He produces and directs the TV show, edits and cuts the film, polishes the scenarios ("I make the words sound real and natural"), keeps his sponsors (Hotpoint and Listerine) contented, and, in his free time, lectures his sons on the Eagle Scout concept of honor or takes them on for practice sessions of football or basketball. On the show itself. Ozzie's character lacks the overhead drive and adding-machine efficiency that he displays in real life. As in most other TV family dramas...
When James J. Nance quit the presidency of Hotpoint Co. (appliances) to take over Packard Motor Car Co. eleven months ago, his old employers gave him a notable vote of confidence. Hotpoint's parent company, General Electric, bought 25,000 shares of Packard for its retirement fund. This week Jim Nance, 52, proved that the confidence was well deserved. Packard's first-quarter profit of $10 million before taxes was better than in any other three-month period in the company's history. On sales of $123 million, Packard netted $3,510,062, almost triple the figure...
...keep up with the Nance pace to be pensioned off. In the plan's first month of operation, 400 supervisory employees were put out to pasture. Nance set about filling the vacancies with younger men from Packard's own ranks, from other auto companies or Hotpoint, and set them all to work cutting production costs. Then he toured the U.S. giving dealers pep talks and listening to their complaints. He weeded out 200 weak dealerships and added 400 new ones (present total: 1,685). One of Packard's troubles, Nance found, was that dealers didn...
...Nance, Packard got one of the ablest salesmen and shrewdest analysts of new markets in U.S. industry. In four years he had built Hotpoint's sales from $20 million to $200 million, made it one of the stiffest competitors of G.E.'s own lines of freezers, refrigerators, stoves, etc. (TIME, Nov. 26). While G.E. welcomed this kind of aggressiveness, Nance ran his show so much like an independent kingdom that his elbows stuck out in G.E.'s hierarchical command. When Nance, by turning down a G.E. executive vice-presidency last year, refused to take his place...
...presidency as a stop-gap after President George Christopher quit in a huff (TIME, Aug. 28, 1950). The quarreling stockholder factions who forced Christopher out have been wrangling ever since, but last week they finally agreed on a president: James J. Nance, 51, president of G.E.'s Hotpoint...