Word: million
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Dates: during 1940-1949
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...healthy. The General Electric Co., which had been among the first big companies to cut prices and had already felt the sales slump in household appliances, was possibly a bellwether of how good "normal" might be. G.E.'s President Charles Wilson reported a second-quarter net of $19.8 million, down 32% from the same 1948 period. However, profit was more than 100% above G.E.'s earnings of ten years ago. By such a prewar comparison, the current "recession" looked fairly prosperous...
...worldwide operations. This week, they were there for the company's 40th annual meeting. With a Scottish twinkle, gaunt, grey Sir William Eraser, for eight years Anglo-Iranian's chairman and operating head, imparted the good news: Anglo-Iranian had turned in 1948 earnings of ?50.7 million ($204.3 million) before taxes, the biggest in its history...
...ships; during the Palestine fighting, they lost control of the Haifa refinery. But Sir William speedily got the refinery back, and he has rebuilt the tanker fleet to 121 ships, greater than ever. Since the war he has helped Anglo-Iranian boost its crude-oil production from 16.8 million tons in 1945 to 28 million tons...
...over the U.S., "from boardrooms to barrooms" Luckman had encountered it. The talkers were not measuring the U.S. economy, but "their own fever chart"-using a special kind of emotional arithmetic, adding two and two to get zero. Luckman preferred to add U.S. employment of 59 million (still close to its alltime high), savings of $200 billion and a purchasing power 53% higher than prewar. "Too many . . . have accepted the jabber-jitter estimates of what is wrong with America, instead of finding out . . . what is right...
Luckman agreed that everything was not rosy. The buyers' market was back, and "a lot of companies and individuals who rode the gravy trains of easy prosperity will be reduced to walking the rails again." But there are plenty of opportunities; 27 million Americans still have no kitchen sinks, 18 million have no washing machines, 25 million lack vacuum cleaners, 40 million have neither bathtub nor shower. The job of supplying such needs could keep business hopping for generations...