Word: procter
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...door-to-door soap salesman, Neil McElroy long ago hit on a simple formula for winning customers: "Give them something good and expose them to it often." As boss of Procter & Gamble Co., biggest U.S. soapmakers, strapping (6 ft. 3 in.) President McElroy, 45, has never let the old selling formula slip out of his hands. Thanks to that, as P. & G. reported last week, earnings for the first nine months of its current fiscal year soared to $49 million, up $15.5 million from last year. What impressed stockholders even more was that P. & G.'s earnings were climbing...
...movies were made last year for Procter & Gamble Co., which paid $91,000 for first transmission rights on their TV Fireside Theater, for such stories as The Courting of Belle and The Pardoner...
...made two smart investments-in American Rolling Mill, in which Colonel Procter was interested, and in Crosley Radio Corp., for which he was counsel. The investments, which he cannily sold out before the 1929 crash, became the foundation of a comfortable fortune. He acquired the franchise for a hockey team and formed a syndicate which erected the $3,000,000 Cincinnati Garden (hockey, boxing, wrestling and conventions). A Cincinnati sport and amusement promoter, Willis Vance, who had dreamed of such an enterprise for a long time, still keeps an architect's drawing of his project hanging in his office...
...bought a string of newspapers, one of which, the Lancaster (Ohio) Eagle-Gazette, he still owns. Today he also has minor interests in an advertising firm, the Churngold (margarine) Corp., American Thermos Bottle, Procter & Gamble, the Reds and the Garden. Besides the Lancaster newspaper, he controls Dayton's WING and Springfield's WIZE radio stations, and Cincinnati's Coney Island. Its Shooting Star roller coaster is the fastest ride in the state of Ohio...
Wonderment. Procter & Gamble, No. 1 U.S. soap producer for generations, had in recent years pushed Lever even farther back in second place-notably by its aggressive selling of synthetic detergents (soapless cleansers), the industry's biggest postwar phenomenon. Lever's big mistake was its failure to anticipate the popularity of detergents. When Luckman took over, Lever had no detergent on the market. By the time Luckman brought out "Surf" in early 1948, P. & G.'s "Tide" was already sweeping the market-and had no trouble holding its lead...