Word: profitability
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Dates: during 1950-1959
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...most of the old management, set about winning over his workers. William Sentner, Midwest boss of the United Electrical Workers, was an avowed Communist, but Symington got along fine with him. Symington wooed and won the workers with a union shop, dues checkoff, union-management committees and a hefty profit-sharing plan...
...inflation is a major threat, largely because of higher bonuses and wages that factory chiefs have been allowed to grant on their own initiative. Bungling Warsaw planners pegged meat prices so low that workers, with extra money to spend, ate more and more. At the same time, farmers' profit margins on livestock were reduced to the point where incentive to raise animals was almost destroyed. In 1959's second quarter, meat consumption increased 14% while production slumped 6.3% below 1958. Hastily, Gomulka raised meat prices 25%, but it was too late. Long queues now form daily before near...
...Monitor's call for a government-established network, run like the BBC by a "public corporation" and paid for by the licensing of TV receivers, seemed a logical solution to some. Last week Pundit Walter Lippmann advanced a similar idea for a new network dedicated not to private profit but to public service...
...subsidized and endowed . . . Why should it not be subsidized and endowed as are the universities and the public schools and the exploration of space and modern medical research, and indeed the churches-and so many other institutions which are essential to a good society, yet cannot be operated for profit? . . . Among [the mass communications media] there must be some which aim not at popularity and profit but at excellence and the good life...
Credited with Westinghouse's climb back to high profits is onetime Management Consultant Mark W. Cresap Jr., 49, who took over as president in 1958, became chief executive officer last April. Under Cresap, Westinghouse has cut costs, improved low-profit product lines and reduced expenses...