Word: million
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Dates: during 1940-1949
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Radiomakers, who had seen sales plummet, were saved-and then some-by television. Typical example: on a sales rise of 41%, Philco boosted its earnings 51% to $2.4 million...
Gold-Plated Steel. In steel, every major company's profits were up, in many cases to new highs. Like Republic Steel a week earlier, Bethlehem reported the best quarterly net in its history; it was up 121% to $22.5 million. U.S. Steel, which made news chiefly by not declaring an extra dividend (which Wall Street had hoped for), trailed with a rise of 20% to $34.5 million. But Big Steel's net did not tell the whole story. Because its depreciation reserves "were not sufficient to cover the cost" of replacing property at current high prices, the company...
Among the designers of the Colmol was Sunnyhill's 37-year-old President Clifford H. Snyder, who started in business with a $75 second-hand truck. He now runs a company that grosses $25 million a year. Along with Co-Inventors Arnold E. Lamm, Sunnyhill's executive vice president, and V. J. McCarthy, a coal man of Youngstown, Ohio, he built a prototype of the machine around an old army tank, worked out the bugs in a company warehouse, that was guarded day & night...
Deal for Steel? General Motors Corp. announced that it would build two plants near Pittsburgh, one for "blanking" (cutting) steel, the other (a $13 million factory) for stamping out Fisher Bodies. G.M.'s official reason was that it needed a body assembly plant in the Pittsburgh area. But automakers thought there was another reason. They gossiped that G.M. had made a shrewd deal with Pittsburgh steelmen, who are worried that the decision on basing points (TIME, July 19) will make it hard for Pittsburgh to sell steel when the shortage is over. The steelmen reportedly had promised G.M. plenty...
...industry had reason to be proud. It had boosted its prewar sales rate of $270 million to $900 million last year, in 1948 expects to gross $1 billion for the first time in its history. The soaring wages of office help, plus the growing complexity of keeping tax, payroll deductions and other records, were driving U.S. offices to mechanize as fast as possible...