Word: millions
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Dates: during 1950-1959
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Ford's hand was forced by a stock prospectus issued by the Ford Foundation, which plans to sell another 2,000,000 shares of Ford stock (worth some $155 million) in order to diversify its holdings. Included in a list of company products was a footnote on Edsel: "Introduced in September 1957 and discontinued in November 1959." Once that got out, Ford had to speak out, though it had planned to hold off until all Edsels in dealers' inventories were sold. It really did not make much difference. As of last week, only about...
TRADE WITH REDS is picking up considerably as a result of Moscow fair displays of U.S. goods. Third-quarter exports to Reds jumped to $11.4 million v. $7.2 million in second quarter...
...image across, Ford even went to the trouble of putting out a 60-page memo on the procedural steps in the selection of an advertising agency, turned down 19 applicants before choosing Manhattan's Foote, Cone & Belding. Total cost of research, design, tooling, expansion of production facilities: $250 million...
Actually, Ford will not lose its entire investment. Of the total, $100 million went for production facilities, which will be used to produce Ford's second entry into the compact-car field next spring. As a running mate for the Falcon, Ford plans a slightly larger, more luxurious compact model that it originally thought of calling the Edsel Comet. Now the new car will just be called the Comet...
...afford it. Over the past 50 years, Hallmark has grown into the goliath of the greeting card business, producing 4,000,000 copies of 11,000 different cards each day for sale through 22,000 retailers in four countries. Hallmark's gross is estimated at more than $90 million annually, twice as big as its two nearest competitors combined, and profits are estimated close to $5.4 million annually...