Word: one
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Dates: during 1970-1979
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...nine months after the new employee-owned company, Republic Hose Manufacturing Corp., took over the one-story plant, productivity is up 40%, and the rate of rejected products has dropped from 8% to 1%. The firm, which today employs 130, estimates that for its first complete fiscal year it will earn a pretax profit of up to $600,000 on revenues of $7 million; that is less than the approximately $12 million in revenues of Aeroquip's final year but at least double the new owners' initial projections...
Guerlain spent more than $10 million to launch its first new perfume since 1975, and it will doubtless make a similar splash when it brings the pricey ($85 per oz.) fragrance to the U.S. next year. Nahema's debut was one of the biggest barrages in a war of dollars and scents being waged by French perfumers this fall: more than 20 new fragrances are coming out, and most will carry the names of well-known fashion houses, including Balenciaga, Courreges and Balmain...
...Robert Ricci, head of the Nina Ricci firm, openly concedes that his firm could not exist without its worldwide perfume sales. Says he: "It is very difficult to make money out of clothes, and impossible out of haute couture. "High sales volume cannot be achieved with clothes, since no one style can ever have really broad appeal. Perfumes, by contrast, are bought everywhere, in all seasons and by all kinds of people, from secretaries to socialites. L'Air du Temps and other fragrances account for 75% of Nina Ricci's revenue. Several fashion bastions, among them Schiaparelli, Chanel...
...links to other Arab countries, as well as the remaining airline flights, will be severed in March, when Egypt and Israel plan to open embassies in Jerusalem and Cairo. Still, some top Egyptians believe that the boycott will not last long, and may be softening already. In November, says one Sadat aide, the Saudis began sending "signals" that they would not undermine Egypt or the peace treaty; they would go on shipping oil through the canal and the Suez-Mediterranean pipeline, and the $2 billion that they and Kuwait have in the Central Bank of Egypt would not be pulled...
...handling of last winter's record blizzards helped bury the political career of for mer Chicago Mayor Michael Bilandic. Now a sculpture of Bilandic and his socialite wife Heather, by John Setick, has created another blizzard, this one of controversy. Sefick's The Bilandics, which the sculptor describes as "a Chicago rendition of Grant Wood's American Gothic, "went on display in the city's Daley Center in mid-November. The work depicts the couple relaxing, with a taped voice coming from the former mayor's figure saying: "Put another log on the fire, Heather...