Word: ownerships
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Dates: during 1960-1969
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Meanwhile, 99-year-old Goodrich, the nation's fourth largest rubber company, was taking a rather bumpy ride. Last year it earned only 3.9% on its $1.1 billion sales, lowest profit margin among the Big Four. Goodrich was obviously vulnerable to takeover because its ownership was widely scattered and the price-earnings ratio of its shares was relatively modest. It was not long before Goodrich began to draw the attention of a number of acquisitive companies, including Northwest. Goodrich Chairman Ward Keener, a onetime economics professor, began mapping defensive strategies as early as last June...
Lane decided that his bank, the biggest in the Deep South (assets: $1.5 billion), should become deeply involved in increasing home ownership and black capitalism in deprived areas. As a first step, he devised "the Georgia Plan," which starts with local cleanup drives and leads to high-risk improvement loans...
...coast up even after the economy has begun to cool off. There has been no fuel added to the fire for several months." Several special circumstances, moreover, contributed to the March price increases. One was the fact that high interest rates were suddenly included in the figure for home ownership costs. Prices for used cars, which swung downward temporarily last year, rebounded sharply to their former levels. Food rose by 0.4% and clothing by 0.6%. Higher prices did not deter shoppers from buying spring fashions; March sales in the apparel industry rose 14% above their level of a year earlier...
...willingness to gamble that Haas insists has been possible only because the company is privately held. Possibly the boldest move occurred in 1964, when the company became one of the first to manufacture permanent-press clothes, which it now sells in 60 countries. The company intends to keep its ownership concentrated. Whenever an employee leaves, he is required to sell his stock back to the company...
...system thrives because it combines the incentive of personal ownership-the best goad man has yet devised to spur hard work-with the managerial talents of big business. For a fee (average: 3.8% of receipts), the typical franchise operative buys professional expertise he could otherwise scarcely afford-notably, cost controls, promotion and buying advice, and tested operating methods. The main advantage for the parent company is that franchising enables it to expand while putting up little of its own capital...