Word: lestoil
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Noxell is now undergoing a major expansion program. Nearly every year since Bunting took over, he has brought out new products or added to existing Lines. Among these new entries: RainTree hand and body lotion, Lestoil deodorizing rug shampoo and Noxzema antiseptic skin cleanser. This year the company will introduce a new line of Lipstick...
...marriage, Yaleman Hogan helped Father-in-Law John Bolten sell his small Massachusetts plastics company, start a successful transistor plant, sell that, and then buy into a string of small businesses that range from printing to Latin American Coca-Cola franchises. Their biggest purchase, three years ago, was Lestoil liquid detergent, which was doing well then but shortly afterward was hard hit by the entrance of the giants into the field; sales sagged from $24 to $14 million. Hogan, after first losing out on an ill-advised attempt to market Lestoil nationally, has retrenched and regionalized, brought in young management...
...Lestoil Syndrome. Du Pont had the nylon market to itself for 15 years, and did well with Dacron too. But when it went into production of its tough new Delrin plastic-a breakthrough it considers as important as nylon-hardly two years passed before competing Celanese Corp. hit the market with an almost identical plastic developed by its own chemists. U.S. Steel recently developed a new, economical "thin tin" plate-only to find other steel companies out in six months with a thin tin that customers liked better because it gleamed brighter; Big Steel is now copying some...
Rivals are so quick to follow in the wake of any successful product that smaller, weaker originators are frequently swamped. In industry, this is now known as the Lestoil syndrome because of the experience of Lestoil Products of Holyoke, Mass. Lestoil scored a hit with its liquid household cleanser and gleefully watched sales climb to $25 million. Then Lever Brothers followed with Handy Andy, Procter & Gamble with Mr. Clean; recently Colgate weighed in with liquid Ajax. Lestoil's sales have fallen to $16 million, and the company has had to stop paying dividends...
...name is John Eyre, producer of the aesthetically if not financially sensible King Lear. Here he is living in an America of monthly payments, You-Auto-Buy-Now, Eisenhower and Lestoil, taking advantage of all that a middle-class world can offer, and, at the same time, maintaining fiercely the values and the pride of an upper class whose world has really ceased to exist...
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