Word: profitability
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Dates: during 1950-1959
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...bugs are ironed out. Periodically, production men, many of whom are engineers, are sent back to research to reabsorb the scientific spirit. The intermixing has produced so many workable ideas that sales have shot up from $2,285,000 in 1946 to $45.6 million last year. And with profits of $2,349,000, every employee got almost two months' pay in profit-sharing...
...seniority schedules make them less attractive than higher-paying small companies, try to make up the difference with a long string of fringe benefits. After a survey of several score firms in the New York area, the Commerce and Industry Association of New York reported that 78.1% offer profit-sharing plans, 52.7% pay full costs for employees' health and accident insurance. But only the most exquisite melding of money, kindness and men leaves a girl impressed. "Fringe benefits are such old hat," says one employment agent, "that the girls just want to know how many they're getting...
When the Brewster-Newell horse partnership broke up in 1955, Newell, who had put in most of the money, emerged with a $40,000 loss. Brewster, who insisted that sometimes he really walked the horses, somehow came out with a $44,000 profit. The Brewster-Newell accounts still have not been finally settled because of an argument about the disposition of a mare named Whang Bang. Asked Committee Chairman John McClellan: "Is this a kind of whang-bang transaction?" Replied Frank Brewster: "She was a whang-bang mare. She won 40,000-some dollars...
...however, argued that Insurance Man Newell had been much whang-banged in his dealings with Brewster. Reason: the Teamsters' Western Conference, under Frank Brewster, had made Newell the broker and consultant for its health and welfare fund. The annual profit to Newell...
...this year. I can see no signs of a recession or depression." ¶ Walgreen Co. President Charles R. Walgreen Jr.: "There are no signs of a recession in the drug industry. We are experiencing the best year in the history of our business-both in volume and profits." ¶CJ Coca-Cola President William E. Robinson, just back from a swing through company plants around the country: "With the availability of goods high and profit margins smaller, the consumer goods industry has the most competitive year we have seen since the war. But I found a sober, realistic, serious optimism...