Word: outs
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Dates: during 1950-1959
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When the subcommittee asked Merck & Co.'s President John T. Connor for an explanation, he was well prepared. The big companies, said he have different selling costs for individual sales and bulk sales to Government, could not stay in business if they sold to everybody at the same price...
Illustrating the job of the creators, Connor said that his company spent 15 years trying to develop a cure for the rare (800 new cases a year) Addison's disease. In the search it found out, in 1949, how to mass-produce cortisone, today used by millions, and with...
Upjohn's Dr. E. Gifford Upjohn conceded that the race of drug companies to keep up causes his firm, in line with others, to spend 28.6% of its budget on 1,000 salesmen (out of 5,700 employees), plus other promotional activity. Research costs: 9%. Despite the high overhead...
professional soldiers who have won star-studded reputations in the postwar business world, the out standing example is General Lucius DuBignon Clay, the compact (5 ft. 9 in., 170 tbs.), hard-driving chairman and chief executive of Continental Can Co. West Pointer ('18) Clay, 62, carried out one of...
LUCIUS CLAY does not rest on his fame or his contacts (Continental has little Government business) to earn his $150,000 yearly salary. "Does he run the company?" asks a Continental executive. "I'll say he does. Not just 100% - about 106%." Clay has a photographic memory that enables...