Word: june
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Dates: during 1930-1939
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...three months through June GM's sales were $500,000,000, some $34,000,000 more than in the same period last year. Yet earnings were down from $88.000.000 to $65,000,000. For the six months GM sales were also up but profits again were down, from $140,000,000 in the first half of 1936 to $110,000.000 in the first half of 1937. Higher material costs accounted for part of GM's unfavorable showing but Labor was blamed for the rest. The GM report, in the words of Financial Editor Carlton A. Shively...
...Sloan went on to say that higher automobile prices seemed inevitable, though GM's profit margin is not yet distressingly slim (13% for the June quarter).* Gloomed Mr. Sloan: "Much might be said as to the effect of increased selling prices on the course of the recovery movement........ . The hope might be expressed, however, that sooner or later the fact will be recognized that sound and desirable progress, reflecting a higher standard of living, never can be made possible by the policy of arbitrarily increasing wages, shortening hours and reducing efficiency, without regard to the effect on real prices...
...before Mr. Sloan released his tract, another report from another freshman in modern labor relations-U. S. Steel Corp. -published June quarter earnings. Without strife or struggle Big Steel came to terms with John L. Lewis late last winter, and if it had any complaints on the subsequent behavior of the steel union, it kept them strictly to itself. While "Little Steel" was fighting Labor on a dozen bloody fronts, Big Steel piled up the biggest first-half profit in seven years-$64,000,000, quadruple the figure for the same period of 1936. With part of these profits...
...expected, Tom Girdler's Republic Steel made the worst showing in "Little Steel.* The strike centred on Republic, as the official release from the Girdler office understated it, "because of its determined efforts to carry on operations." Earnings in the June quarter were only $487,000, as against $5,500,000 in the preceding quarter and $2,600,000 in the June quarter, 1936. Embattled Youngstown Sheet & Tube managed to clear $2,000,000, off 20% from the June quarter the year before and considerably less than half what it made in the March quarter this year. Bethlehem Steel...
...months ending June 30 Hupp Motor Car Corp. last week reported a net loss of $349,966 against a net loss of $479,551 for the first half of 1936. In a year of booming automobile sales this reduction by itself might appear small comfort to an old and long stagnant motor-maker. But the true state of Hupp was discernible last week not in its profit & loss account but in the balance sheet and in its big plant off Detroit's East Grand Boulevard. In both of these stagnation lurked no longer...