Word: kappele
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...even though a couple of other economic indicators-housing starts and orders for durable goods-have been declining. At the week's biggest annual meeting, where 4,411 of American Telephone and Telegraph's 2,350,000 shareholders met in a chilly Bronx armory, Chairman Frederick R. Kappel announced that A.T. & T. had installed 750,000 telephones in the first quarter and is experiencing a "quickened" demand. Kappel had better reason than most to be enjoying the business climate. To raise $1.2 billion of the $3.3 billion that it will spend this year to grow and modernize...
...hours before the tax cut was signed into law, American Telephone & Telegraph Chairman Frederick R. Kappel received a long-distance call from one of his best customers: Lyndon Johnson. How, asked the President, would the measure affect A.T. & T.'s plans? As a direct result of the cut, said Kappel, A.T. & T. would add another $100 million onto its record 1964 budget for capital spending, originally set at $3.25 billion...
...Last year General Motors reported earnings of $1.459 billion on sales of $14.6 billion, more than any corporation anywhere had ever earned in a single year. Last week, however, an old champion regained the crown. Reporting on the twelve months that ended Nov. 30, A.T. & T. Chairman Frederick R. Kappel informed his 2,250,000 shareholders that the telephone company and its sprawl of subsidiaries had net income of $1.522 billion on operating revenues of $9.5 billion. "The Bell System," said Kappel with ringing understatement, "has had a good year." But still to be heard from is another Frederic...
...White House. So far, President Johnson has won a reception from businessmen that is cordial beyond anything lately experienced by a Democratic President. In homey speeches to them at White House meetings and in personal phone calls to such executives as A. T. & T. Chairman Frederick R. Kappel and New York Stock Exchange President Keith Funston, Johnson has appeared a friendly, conservative Chief Executive who understands business. It is not unusual to hear from businessmen comments such as those of Borg-Warner Vice President Judson Sayre: "You get sold on Johnson. If he conducts himself with not too many blunders...
...Outpouring. U.S. businessmen have been bullish about the economy for many months, but President Johnson's plea for help, his take-charge demeanor and his conservative appearance seem to have released a whole new outpouring of great expectations for the economy. Said Fred Kappel after the Washington meeting: "We have undiminished confidence in the economic and moral strength of the country." In Manhattan the normally undemonstrative National Association of Manufac turers pledged Johnson its "loyal support and cooperation," then predicted that 1964 would be as good for business as 1963 has been. At a Florida meeting of the Investment...