Word: peete
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Dates: during 1940-1949
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There were such veterans on the list as American Tobacco Co. President Vincent Riggio ($484,202), Bethlehem Steel's Eugene Grace ($293,279), and William Randolph Hearst ($300,000). But the others were not so familiar. They were: E. H. Little, president of Colgate-Palmolive-Peet Co. ($350,000); A. A. Somerville, vice president of Manhattan's R. T. Vanderbilt Co., Inc., which distributes chemicals ($319,398); Seton Porter, president of National Distillers Products Corp. ($310,000); Theodore Seltzer, president of Bengue Inc., which makes Ben-Gay ointment ($295,613); and G. A. Bryant, president of a Cleveland...
...crisp, compelling voice said: "This is Bill Stern wishing you all a good, good night . . ." With that sign-off last week, dark, dapper Bill Stern ended the sooth program on his .Sport newsreel (Fri. 10:30 p.m., NBC) and rounded out ten years for the same sponsor, Colgate-Palmolive-Peet Co. Since few sports-comment programs ever get on a national network, and even fewer last, Stern's decade on the air is unequaled in radio's short history...
Bogged-Down Trucks. For companies whose profits were down, the cause was generally 1) high-priced inventories at a time when prices were dropping or 2) a shift to a buyers' market, which cut sales. Colgate-Palmolive-Peet, for one, reported a third-quarter net of $3.1 million (v. $5.3 million last year) on lower sales. Standard Brands showed a profit of only $787,519, a drop of 49%. With sales slipping, five out of eleven makers of electric appliances reported declines ranging from 2% (for Noma Electric) to 43% (for Bendix Home Appliances). Truckmakers Diamond T and Autocar...
Soap Opera. The soap industry's "Big Three"-Lever Bros., Procter & Gamble, and Colgate-Palmolive-Peet-were accused by the Federal Trade Commission of unlawful price discrimination against small customers by their rebate system to big buyers. P. & G. admitted that it gave rebates to protect wholesale stocks, whenever it lowered prices. But, said P. & G., it was a practice that had been respected for "many, many years," and once approved...
However, a few industries were already feeling the effects of competition and the buyers' market. With the backlog in trucks about gone, profits fell for such smaller producers as Mack Trucks (down 50%) and Autocar (down 90%). Colgate-Palmolive-Peet's half-year profits dropped more than 50%. Bendix Home Appliances also felt a sag in sales, reporting a profit of $900,550 for the second quarter v. $2,565,-208 for the corresponding period last year. Profits of shoe companies were down; International Shoe...