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...booming aircraft industry felt the tax bite; Consolidated Vultee's after-tax net dropped from $3,200,000 to $1,700,-ooo, Douglas' from $2,200,000 to $1,500,-ooo. Other notable declines: Libbey-Owens-Ford's nine-month net fell from $22 million to $12.8 million; R.H. Macy's yearly net fell from $6,400,000 to $5,200,-ooo (in spite of a $29 million rise in sales); Western Union's eight-month net dropped from...

Author: /time Magazine | Title: Business: Tax Toll | 10/29/1951 | See Source »

Misery Has Company. Cordiner had plenty of company. Many another earnings report made no better reading than his own. Even the "growth" industries, such as chemicals, were taking a licking. Du Font's nine-month net after taxes fell 28% despite a 24% gain in sales; Dow Chemical's third-quarter net fell 25% despite a 33% sales gain. Smaller chemical companies managed to boost their nets...

Author: /time Magazine | Title: Business: Tax Toll | 10/29/1951 | See Source »

Valentine's successor was already waiting in the wings. Energetic Eric Johnston had arranged a nine-month leave of absence from his job as chief of the Motion Picture Association of America (with the probability of further leave, if necessary), and put in a requisition for a Government desk close to Charlie Wilson's office in Washington's grubby old State Department building...

Author: /time Magazine | Title: National Affairs: No. 2 Man | 1/29/1951 | See Source »

Pretty Picture. To nobody's great surprise, the television set makers made one of the prettiest profit pictures. Radio Corp. of America, the biggest U.S. set maker, netted $12.4 million (v. $3.9 million in 1949), and its nine-month total of $33.3 million exceeded any full year in the company's history. Ross Siragusa's mushrooming Admiral Corp. more than tripled its net to $5.2 million for the quarter...

Author: /time Magazine | Title: EARNINGS: Crest of the Wave | 11/6/1950 | See Source »

...credit controls, had proved a bonanza for many a supplier. Bigelow-Sanford Carpet Co., whose rug sales had slumped last year, managed to increase its net an incredible 30-fold from $61,500 to $1.9 million by merely doubling its sales. Alexander Smith & Sons Carpet Co., which boosted its nine-month net six-fold to $4 million, declared an extra dividend of 50?. So did American Radiator & Standard Sanitary Corp., biggest in the plumbing fixtures trade. American Radiator's net hit an alltime high of $17.7 million for the first nine months, up 77% from...

Author: /time Magazine | Title: EARNINGS: Crest of the Wave | 11/6/1950 | See Source »

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