Word: lum
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Dates: during 1950-1959
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Last week two more industrial giants announced their future plans. Chrysler President Lester Lum ("Tex") Colbert said his company will spend more than $1 billion over the next five years for new plants and automated equipment. To express "our confidence in the economic outlook," Standard Oil (N.J.), the world's biggest oil company, announced that in 1956 it will spend a record $1.1 billion on expansion: 50% on searching for new oil, 25% on refineries, and the rest for new transportation and marketing facilities to get its products to consumers. Little Man Beware. In Wall Street there are still...
Wheeling out the 1956 Plymouth, Dodge, DeSoto, Chrysler and Imperial passenger cars at a party for the press this week, Chrysler President Lester Lum ("Tex") Colbert sounded a challenge to the other automakers. Said Colbert: Chrysler Corp., which captured 18.1% of the automobile market in the first seven months of 1955, is "out to get 20% of the automobile business, and more...
Chester H. Lauck, 53, the "Lum" of the radio and movie team of Lum 'n' Abner, was named an executive assistant in Houston's Continental Oil Co. Lauck, longtime cattle raiser (on his 143,000-acre Nevada ranch) and veteran of a score of radio years, was a businessman (manager of the Citizen's Finance Corp. of Mena, Ark.) before he turned to radio. Continental President L. F. McCollum said that while Lauck will have administrative duties with the company, he will also "be available as an after-dinner speaker and for other community gatherings...
...real surprise, however, was in Chrysler's comeback. Last week President Lester Lum Colbert announced that net earnings in the first quarter were $34,504,730, or $3.96 a share, almost twice the earnings for all of 1954. Not only has Chrysler's percentage of the auto market jumped from 14% since the same period last year, to 18% but actual sales of 454,948 cars in the first quarter were the greatest in history. Said Colbert: "We are applying every bit of our energy and ability to accomplish even better results...
...reported that in one ten-day period of February its dealers sold 8,806 Mercurys, well above any similar period in the division's history. Chrysler sales were running upwards of 70% over last year. To keep up with the increasing demand, Chrysler will expand further. President Lester Lum (Tex) Colbert announced that Chrysler will build an 800,000-sq. ft. automatic-transmission plant in Kokomo, Ind., have it in operation for 1956 models...