Word: kappel
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Dates: during 1950-1959
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With energy, enterprise, and a knack for learning fast, Kappel conquered 14 jobs to reach the rank of vice president of Northwestern Bell in 1942. Then came a call to New York, where his mettle was tested in a variety of jobs in operating and engineering. He did so well that in 1954 he got the second biggest job in the Bell System: president of Western Electric. In 1956, to no one's surprise, he was tapped for A. T. & T.'s top job to succeed Cleo Craig...
...first time since 1931. The buying pressure got so great that last week A.T.&T. made more shares available. President Frederick R. Kappel announced a three-for-one split, first in the company's history, thus in one swoop will add better than 140 million shares to the market. To top it off, the dividend was boosted...
...each of the first two quarters, then flatten out to end the year around $480 billion for a 6% increase. Inventories have already reached bottom, will slowly be rebuilt. Businessmen are once again increasing their outlays for plants. Forecast: up $1 billion to $31 billion. Says A.T. & T. President Kappel, who will add $2 billion to the $2.2 billion he laid out last year: "When the recession came along, we had to decide whether to trim capital expenditures as in past recessions. We felt sure that renewed growth was coming, so instead of cutting down drastically-which would only mean...
...communications, American Telephone & Telegraph President Frederick R. Kappel said the decline in new phone installations was reversed in September and "business is on the way up." Betting heavily on the future, A.T. & T. will spend $2 billion on construction next year for the fourth year...
...second quarter, Kappel noted, the number of new phones installed totaled "about 500,000-slightly more than in the first quarter," but still well below last year's figure of close to 700,000. Long-distance phone calls rose by 4% during the first half. Together, the two gains helped wipe out the first-quarter downturn in earnings. Net profits for the second quarter totaled $233 million, v. $214 million for the same quarter last year. Revenues were $1.66 billion, v. $1.57 billion last year. Said President Kappel: "While our current rate of gain is lower than...