Word: procters
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...Eddie Bernays, a swart, jittery nephew of Sigmund Freud (a fact of which he is inordinately proud). He began his career as a newshawk, then as pressagent for Enrico Caruso. Now he likes to consider himself a "priest to Big Business" and he ministers only at a high retainer. Procter & Gamble is said to pay him $25,000 a year...
...that of the "great benefactor." Ivy Lee's firm, now under the direction of sober Thomas J. Ross, still has the Rockefellers, the Pennsylvania Railroad, Chrysler Corp. and other industrial giants as clients. More spectacularly successful today are such younger rivals as Edward L. Bernays (Procter & Gamble, Allied Chemical & Dye), Carl Byoir (A. & P., Goodrich, Libbey-Owens-Ford Glass), Steve Hannagan (Miami Beach, Union Pacific), Benjamin Sonnenberg (Texaco, Philip Morris, Remington Rand), Bernard Lichtenberg (Swift & Co., United Brewers Industrial Foundation...
Hormel was not the first to guarantee wages or employment. Procter & Gamble has guaranteed 48 weeks of work to some employes since 1923 and the National Association of Manufacturers has listed seven other companies in which similar annual plans were in effect last year.* But the guaranteed-wage idea got its biggest boost when General Motors adopted it last fall (TIME, Nov. 21). Last week it looked as if guaranteeing wages might become a major business trend for 1939† three more concerns jumped aboard the bandwagon and Jay Hormel announced a new scheme...
...committee knew of only 167 U. S. profit-sharing plans, but after a summer of study, it now believes there are as many as 700. First profit-sharer to appear last week was President Richard R. Deupree of Procter & Gamble Co. (Ivory Soap). As he took the stand the survey's director set the tenor for the meeting by remarking: "This is not an inquisition, Mr. Deupree. We are glad to have you come to help...
Fitting themselves into this jigsaw puzzle of conflicting theories has led the sponsors of profit-sharing into dozens of applications: cash bonus plans, stock purchase plans, semi-retirement plans, etc. Procter & Gamble's is the best known in the U. S., with 50 years of success behind it. Its employes kitty in 5% of their wages. The company matches this with a contribution of 5% of the worker's wage for the first two years, increases this to a maximum of 15% by the time the worker has served 15 years. The fund is used to purchase stock...