Word: profits
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Dates: during 1950-1959
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...dipped to $7,700,000. But last week Odium told stockholders that Convair was gaining altitude again. In 1952 Convair had earned $10.4 million, its best net profit since World War II and about 35% more than in 1951. It was turning out Convair-340 airliners and finishing off orders for B-36s, which are being replaced by Boeing B-52s. Soon Convair will begin making F-102 delta-wing supersonic interceptors...
...York Shipbuilding, his golden touch began working fast. He paid $16.50 a share for 124,700 shares (62.4%) of the voting stock, which last week was selling around 20, giving Wolfson and associates a paper profit...
...World War II's end, Wolfson was able to plunk down $1,000,000 to buy the war-surplus Tampa Shipbuilding Co. Within two years, he and his brothers liquidated it for a profit of $4,000,000. They also liquidated the supply company for another $2,500,000 profit. With wealthy business friends, they organized a "Florida syndicate" to buy control of Merritt-Chapman & Scott. Wolfson, who grew up with Politician Fuller Warren, contributed $100,000 to Warren's successful campaign for governor, and later, on a low competitive bid, won a contract to build...
...control (45.6%) of Washington's transportation system, found it a gold mine. The stock had been paying only 50? a year, but Wolfson's group has since paid out a total of $22.60 in dividends. The stock has soared, with a paper profit to the group of more than $6,000,000. Some critics thought the profit came out of money needed for new equipment, and spoke darkly of "scuttle & run" operations. Wolfson blithely answered that the dividends should have been distributed before. Wolfson's simple secret of success: "I work hard...
Studebaker let itself go in 1939. It put out its lightweight Champion, which was so successful that sales nearly doubled (to $82 million) and a $1,700,000 loss the year before was turned into a $3,000,000 profit. When World War II came, the company was ready to take on $1.2 billion in war contracts, turning out 198,000 trucks, 64,000 engines for Flying Fortresses, and 16,000 amphibious Weasels. When Hoffman left to become ECA administrator, Vance became president as well as chairman...