Word: mille
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Dates: during 1940-1949
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...story, which the committee dredged up from a dozen witnesses, began with International Detrola Corp., which needed steel for its radios and phonographs. To get a supply, Detrola, in August 1946, bought the Newport Rolling Mill at Newport, Ky. But Detrola's President C. Russell Feldman soon found that he still had a problem : he had no pig iron to make his steel. So, he told the committee, he made a deal with Kaiser-Frazer Corp. to trade finished steel for K-F's pig iron. (He also made another deal, the committee found, with Cincinnati...
Tuned In. Detrola's Feldman soon had another problem: his radios were piling up. So he offered to sell 9,000 tons of steel at mill price ($100.09 a ton) to Boston's Clark & White, Inc., if it would also pay $875,000 for 28,000 radios. Clark & White accepted the proposition - and lost $580,000 on the radios; it sold them for $295,000. But it made up the loss handily - and $461,120 to boot - by selling the steel in the grey market...
...example, which Alcoa hailed as "the greatest single application ever achieved in the building trades," was its giant new $30 million rolling mill at Davenport, Iowa. Built in 18 months and nearly ready to start production (of extra-wide sheeting), the mill squats over 47 acres along the banks of the Mississippi River...
...salable car that he spent $18 million to retool. Last week, shy Ed Barit was beaming with good news: in 1947 Hudson had doubled its profit to $5.7 million. Better still, said Barit, by late May-thanks to an "extra 5,000 monthly tons of steel from a Government mill he had leased-Hudson could step up its 600-car daily production to 1,000 a day. At that-rate, Hudson could shoot at its 1929 alltime record of 300,000 cars...
Everything is grist for his mill: comic strips, eating habits, dates, company picnics, pet names, bull sessions, charity drives, the State Department, foreigners, middle-aged women, vitamins, public opinion polls, antiSemitism, poker games, investment capital, psychoanalysis, the Senate and the Statue of Liberty. Much of the book is funny, some of it is brilliant; all of it would be improved if the author had left out the high-toned language and one-way-glass point of view of anthropology...