Word: kodak
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...Golden Secret. Despite the fun, they worked hard. They prowled over a dozen farms, snapped hundreds of pictures with $49 cameras presented by Eastman Kodak, asked thousands of questions. Eagerly they pounced on every new idea or machine for farming. They talked and acted like alchemists expecting to find at almost any moment the secret formula for Iowa's golden bounty, for the fat grain bins and seven-foot stands of corn, for the prosperous farms and happy people. They could not believe that most Iowa farmers work their quarter sections (160 acres) by and for themselves...
Business Career: Joined Eastman Kodak Co. in 1914, became a special assistant to President George Eastman in 1921, rose to treasurer in 1935, director in 1947. As Eastman's assistant, he began working on private-enterprise social security before 1929, started a "guaranteed annual wage" plan 25 years before Ford and General Motors did. He worked out a retirement plan for Kodak in 1928, an unemployment benefit plan in 1930, which included 13 other Rochester companies, became famous as the Rochester Unemployment Benefit Plan. It called for payment of 60% of salary to unemployed workers for thirteen weeks...
Personality: Greying, slight (5 ft. 8 in., 150 lbs.), he is shy, quiet, retiring. A nonsmoker and nondrinker, he likes to raise vegetables, walk Civil War battlefields, and take pictures with a prewar Kodak Bantam special ("Best camera Eastman ever made"). His soft Georgia voice takes on a rare commanding ring when he mentions the liberal social policies he has been writing about, arguing for, and putting to work for more than a quarter of a century. He constantly seeks a practical, private-enterprise solution to social problems, e.g., when he found in 1953 that federal employees had no group...
...across the board, the profit charts showed an upward curve. Radio Corp. of America boosted its fourth-quarter earnings to $12,968,000, a fat 31% above last year. For the full year, R.C.A. earned $41 million (v. 1953's $35 million). Eastman Kodak Co. pushed its last-quarter profits up more than 50%, to $23 million, closed the year with earnings of $3.99 a share (v. $2.86 for 1953). Even the cancer-scared tobacco industry moved up. R. J. Reynolds (Camels) sent its fourth-quarter profits...
...touched off the dispute with Antitrust when it ruled that Eastman Kodak Co. may sign Fair-Trade contracts with independent retailers, even though these retailers compete with Kodak's own retail stores. Nobody was more surprised at FTC's decision than the trustbusters. Only a month ago Eastman agreed to drop Fair-Trade pricing on Kodachrome and Kodacolor film after the Justice Department brought an antitrust suit against Eastman. One of the three charges was that Eastman sold through its own retail outlets in illegal competition with price-fixed Eastman film sold through independent stores. Thus, while...