Word: know-how
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Rentschler persuaded Niles-Bement-Pond Co. (precision tools), which had plenty of war-earned surplus cash and unused war-built factory space, to bet its cash on Rentschler's know-how. The company staked him to $250,000 and a factory to develop his first engine. Because Rentschler got his factory space and tools at Hartford, in the plant of Niles-Bement-Pond's tool-building Pratt & Whitney division, the new company was called Pratt & Whitney Aircraft...
Then high-flying Fred Rentschler got an order to land. Senator (now Justice) Hugo Black, investigating supposed overpayments in Government airmail contracts, compared the value of Rentschler's original investment in Pratt & Whitney (nothing but his know-how and a few shares bought at 20? each) to the market value of his holdings in United Aircraft in 1933. Black concluded that Rentschler had a paper profit of $21 million on a $253 investment. Rentschler said that he had, indeed, made a lot of money, and patiently explained that this was because Pratt & Whitney had grown big by making good...
...Finance Committee of the French Senate last week issued a shocking, 100-page report on bungling in the nationalized French aircraft industry. The report compiled by Senator Marcel Pellenc, who enjoys a reputation for honesty and technical know-how, charged&: ¶ Although the French aircraft industry had been voted a $250 million credit for modern military aircraft, the government has done little or nothing about getting them into production. ¶ France's chief fighter plane, the British-designed Vampire 5, now in production at a "normal rate," is obsolete. ¶ France's only up-to-date fighter plane...
Better Living is the superproduct of Manhattan Promoter Edward W. Miller, the Supermarket Institute, representing some 5.000 U.S. stores, and McCall's, which provided $750,000, its printing plant and know-how. Miller raised another $750,000 from such private investors as Nelson Rockefeller and Clendenin Ryan (onetime owner of the American Mercury). Not till he had supermarket outlets for at least a million copies did Publisher Miller set his editorial staff to work. Said he: "Some people think there's a lot of quick money in this business. But you've got to have a good...
Owner Phillip Meyers, president of Cincinnati's Fashion Frocks, Inc., and take on Kelley-Koett's $1,500,000 debt. Millionaire Meyers, who bought the company nine years ago, was willing to sell it because he lacked the technical know-how to put it on its feet; it lost money in 1949, made only $56,000 last year. Tracer-lab thought it could do better than that...