Word: opm
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Dates: during 1940-1949
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Thus did the new head of OPM's Contract Distribution Division, after nine weeks in his job, set out to lick the most serious economic problem now facing the U.S.: the democratization of defense. His attack had characteristic energy and bravura. He worked from 9 a.m. to midnight, ate 20-minute lunches, burned out three assistants.* From the Budget Bureau he asked a whopping appropriation: $23,470,725 for the next twelve months. Of this, $5,000,000 was for his gigantic promotion plans, including the traveling circus, $1,000,000 worth of permanent exhibits and $422,500 worth...
Although 90% occupied with defense business, Revere Copper & Brass, copper fabricator, last week revealed that it had laid off 1,100 workers, 12% of its working force. It just could not get enough copper. Neither can the U.S.-OPM foresees a 770,000-ton (30%) gap between 1942 needs and supplies. Problem of the week was how to narrow this...
...Treasury's Procurement Division (buying for Lend-Lease) announced the signing of OPA-and OPM-approved contracts with three small high-cost Michigan mines (Quincy, Isle Royale, Copper Range) for all the copper they could dig-perhaps 20,000 tons a year. The deal: the mines were to get it above their "out-of-pocket" mine costs, about 15? or 16? (depending on the producer). The U.S. will still release the copper to fabricators at 12?, absorb the difference. Similar offers will doubtless soon be made to other high-cost mines (like Miami Copper's low-grade Castle...
...week, the latest import figures made it appear that he had also licked the other big Latin American copper problem: shipping space. Chile alone (counted on for 80% of U.S. copper imports) shipped 54,000 tons to the U.S. in August, more than twice last February's low. OPM now counts on Latin America for not more than 600,000 tons (⅓ of total U.S. supplies) for 1942. Only if Latin American copper exports can be increased over this figure-which is unlikely-will they reduce the expected U.S. shortage...
...Jobs 2 & 3, if successfully finished, would make these "vast quantities" look like peanuts. They were both under the supervision of Van Benschoten's boss, Ernest Tupper, OPM's tall, blond Coordinator of Industry & Commodity Research. Ernie Tupper is surveying 1) industry's inventories, and 2) those of the Army, Navy and Maritime Commission. By last week, his industry surveys (86,000 firms were questioned) were almost all in, but untabulated. They had already turned up some interesting preliminary unbalances: pulp and paper mills with ten months' supply of lead; 59 printing-machinery plants with nine...