Word: nets
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Dates: during 1940-1949
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...cashed in heavily on his tinkering. At 27, he is owner and manager of Detroit's Sav-Way Industries. Frequently, he puts in as many as 16 hours a day in his sleek, paneled office, with its private bar, or in his four plants, humming with war contracts. Net income of his company last year: $400,000. Last week he had something besides inventions up his sleeve. He was working on a plan to cut his 600-odd employes in on profits...
...Though Sav-Way is strictly a war baby, Saffady is unworried about the future. He expects to boost his gross another $1,500,000 this year to $6,000,000; he also expects to cut his prices so his net will remain the same, and thus save him the bother of renegotiation. At war's end he expects most of his present business to vanish. Then he will simply riffle through his inventions, decide which ones can be made easily in his plants. He will farm out the rest. But he has no intention of expanding beyond his present...
Cash In. With all this bargain buying, the Porter Co., which grossed $9,000,000 last year, will probably quadruple its gross this year to around $35,000,000, will net upward of $1,000,000. But Tom Evans looks to the postwar world to provide the real windfall. With the railroads already talking about spending $1,000,000,000 a year in the first postwar years, he sees no reason why there should not be a market for 100,000 cars a year for at least five years. And with his sleeves already rolled for battle, he confidently predicted...
...restless and buy anyway." He was talking about a phenomenon that baffled but delighted brokers last week. For three days more than 1,000,000 shares changed hands on the New York Stock Exchange. More, the market turned in the best Saturday (680,320 shares) since last September. Net result: a three-and-a-half-point rise in the Dow-Jones industrials average, to a six-month high...
...story of Basic Magnesium. Conceived by Cleveland's Basic Refractories, Inc., the project mushroomed from a $24,000 investment in magnesium-bearing ore lands to a DPC contract to build and operate a $70,000,000 magnesium plant. Basic Magnesium, the company's operating subsidiary, stood to net a fat $840,000 yearly on the deal, although "it had no financial resources and only the most meager experience and talent." Typical result: although the magnesium-bearing ore was over 200 miles distant, the plant was so poorly located that ore had to be shipped by rail some...