Word: m-k
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...capital. Looking back, he cannot help thinking that every dam since Hoover has been an anticlimax. "It's the glamour dam," he says wistfully. "I still can't go down in the elevator and step out on the intake and look up without being inspired." M-K introduced bulldozers to its partners at Hoover, wound up using 60 huge monsters. There, too, M-K showed off a new tunnel-driving technique using drill jumbos, great scaffolds on which men with 40 drills could hammer away at the same time, thus cutting costs drastically. Hoover was finished in five...
Across the Pacific. Through the '30s, M-K worked on big dams: Bonneville (on the Washington-Oregon line), Imperial. Grand Coulee (Washington), a total construction effort of more than $300 million. M-K built the San Francisco side of the 4,620-ft. Bay Bridge, upped its railroad work to a steady $10 million a year. Despite the Depression, M-K showed a profit in every year except...
...company's gross shot from just under $9,000,000 in 1939 to a whopping $87 million in 1943. With seven other firms. M-K helped build the Navy's Pacific air-base program, spread runways and revetments in 28 different locations on a $1,160,000,000 contract, the biggest by any Government up to that time...
...empire of 36 subsidiaries, eleven other companies, has more than 3,660 pieces of heavy equipment. MK's 1953 gross totaled $287 million, its profits a record $5,761,000, an impressive figure in an industry where competitive bids often shave profits paper-thin. Besides heavy basic construction, M-K is now expanding into factories and laboratories. In 1950, M-K bought 98% of Cleveland's H. K. Ferguson Co., one of the top U.S. constructors of industrial buildings, for $2,650,000, has put it to work on Pittsburgh's $2,800,000 Mellon Square underground...
Under the M-K banner, Ferguson has shifted from a conservative fixed-fee (cost plus a set profit) operation to a more competitive unit-cost (one price for the job) contract. Says Morrison: "A business isn't worth a damn unless you get out and compete." In the first year under Morrison, Ferguson's gross climbed from $27.8 million to $73 million (net: more than $1,000,000), and its backlog jumped from $20 million to $85 million...