Word: houston
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Dates: during 1950-1959
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...Houston last week, employees of the Prudential Insurance Co. of America happily inspected their new 21-story, $9,000,000 office building; it seemed more like a country club than a place to work...
...office was not mere altruism on Prudential's part. It was Prudential's way of luring workers, despite the fact that its wage scale is lower than other companies in oil-rich Houston. For all its employees, Prudential has free medical care, a noncontributory pension plan, and extra vacation days for good attendance; but Vice President Charles Fleetwood decided he would have to do "something special" to staff his new southwestern headquarters. With his new building, he not only got his staff, but now has a long waiting list...
Prudential has found out, says Fleetwood, that employees are more interested in fringe benefits and such things as pleasant working conditions and sports facilities than in higher wages. In Los Angeles, where there is the same kind of competition for office help as in Houston, Prudential had nearly a 100% turnover in a year. Said Fleetwood: "If our pool and other facilities cut turnover by as little as 5%, the pool alone will amortize itself in savings in five years...
...materials. Studebaker, for example, boosted earnings 47% to $3,900,000. The booming oil companies-which have increased earnings almost without a stop for years-were now having their ups & downs. Phillips Petroleum, Standard Oil (N.J.), and Atlantic Refining were up; Shell, hit by a strike at its Houston refinery, reported a half-year net of $19 million, down from $23 million...
...Family. In Houston, after her husband shot at her two-month-old kitten and had to be routed from their apartment by police with tear gas, Mrs. Robert Ernest Chandler explained: "He was just drunk-he really loves that kitten...