Word: mk
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...work sites, Mrs. Morrison talks to the wives of MK's men, asks after their babies, gives them news of the latest fashions and whatever else she thinks they want to hear about life back home. Each night, she works at her diary, which is later printed in the EM-Kayan, the company magazine; it sounds like a letter to a family of 5,000 children spread around the world. A typical entry: "Wellington, New Zealand. Sept. 13: arose 5:30, breakfast 6 a.m. Departed for the airport 6:30 a.m.. where we took a chartered four-motored...
...worse was that few banks were anxious to risk money on a young, untried company. (Today, Morrison borrows as much as $200 million a year from banks and insurance companies spread across the U.S.. is so highly regarded that the Bank of America once wanted to handle all MK's business.) It took years of saving before M-K got its first big steam shovel...
...Colorado River, generate power at the rate of 4 billion kw. a year. On Deadwood, M-K used some of the first bulldozers, began testing diesel trucks, gas-powered revolving shovels, learned to haul equipment over mountains as high as 7,400 ft. on log roads. Even more important, MK's idea for joint ventures was a solution to the dam builders' growing financial problem: projects were so huge that few companies had the means or courage to tackle them since a single mistake might wipe them out. But in joint ventures, with many companies sharing costs...
...partners at Hoover, wound up using 60 huge monsters. There, too, M-K showed off a new tunnel-driving technique using drill jumbos, great scaffolds on which men with 40 drills could hammer away at the same time, thus cutting costs drastically. Hoover was finished in five years, and MK's share of the $10.4 million profit was about...
...Compete." Today, Harry Morrison runs an empire of 36 subsidiaries, eleven other companies, has more than 3,660 pieces of heavy equipment. MK's 1953 gross totaled $287 million, its profits a record $5,761,000, an impressive figure in an industry where competitive bids often shave profits paper-thin. Besides heavy basic construction, M-K is now expanding into factories and laboratories. In 1950, M-K bought 98% of Cleveland's H. K. Ferguson Co., one of the top U.S. constructors of industrial buildings, for $2,650,000, has put it to work on Pittsburgh...