Word: meats
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Dates: during 1960-1969
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...Point, Neb., and Worthington, Minn. Meanwhile, since supermarkets buy out of Chicago and a few large centers, Armour has steadily closed down a quarter of the distributing plants that it once needed across the U.S. to serve 250,000 corner groceries. With farmers finding increasingly better ways to raise meat animals, Armour now can slaughter all year instead of just in the winter rush...
Chopping hard, Armour has cut its physical plant by 42%, but has managed to maintain its sales rate and increase its gross margin, the meat packers' measure of profit. At the same time it has geared its buying and processing to what Americans like rather than to what is merely available. The amount of pork eaten by Americans has remained remarkably steady for 40 years, but lamb is declining everywhere except in New England, New York and Los Angeles. The real advance is in beef eating, which has risen 77% since 1940. "After all," explains Armour Chairman William Wood...
...processes, from skinning to tinning, are now controlled by buttons, and new byproducts have led Armour in promising directions. From bone meal, it has moved strongly into all types of fertilizer. Tentative steps into Pharmaceuticals with pepsin from hog stomachs have led to a line of non-meat products that includes tranquilizers and cosmetics. Excursions into soapmaking to utilize fatty acids produced Dial soap, got Armour so interested in the grocery end that it now even makes pizza pie. Diversified Armour has been reorganized into seven divisions...
Adopted at 30. The man responsible for the company's success is Billy Prince, a brash, bouncy executive who reads poetry in his spare time, once wanted to be a schoolteacher. Prince had an unusual debut into meat packing. Born William Wood, he was adopted at 30 by Cousin Frederick H. Prince, an 81-year-old Boston banker who had no sons he thought able to take over his $150 million holdings. At Prince's request, Billy Wood took his cousin's name and a trustee's job, supervised a spread of trusts that eventually included...
...utility company and point to the best spot for a coal miner to dig in. The Southwest Research Institute in San Antonio even takes aerial-type shots of a steer, then analyzes the animal's "hills and valleys" to get an accurate reading of how much meat is on his bones...