Word: rand
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Copper Proppers. While its atomic-powered pride, the Nautilus, was undergoing her first diving tests General Dynamics declared a 100% stock dividend, and raised its cash outlay from $1 to $1.10 a quarter: the stock scooted up 14¾ points during the week, to 96⅝. Remington Rand reported a third-quarter net of $5,003,268 v. $3,144,787 a year ago, and its stock jumped 6⅜ points, to 40; giant General Motors reported quarterly net of an estimated $2.50 v. $1.60 m 1953, and near-record earnings of $806 million for the year v. $598 million...
Debonair in a silk scarf and herringbone topcoat, and physically not fading at all, General Douglas MacArthur who will be 75 this month, left his 37th-floor apartment in Manhattan's Waldorf Towers to commute by limousine to his job in suburban Connecticut. As Remington Rand Inc.'s $68,600-a-year board chairman, MacArthur makes two or three such trips a week. In his fourth year of retirement as a soldier, he is seldom seen, presumably spends much time in the towers with his family and his memories...
...correct their own mistakes, handle office chores that formerly required scores of clerks. They could also solve incredibly complicated technical problems once beyond the scope of even the biggest staffs of engineers. Among 1954's automated strides: ¶G.E., U.S. Steel and Metropolitan Life all started using Remington Rand's $1,000,000 Univac for totting up payrolls, writing checks and figuring costs (estimated first-year savings to G.E.: $500,000). International Business Machines (whose stock rose more than 100 points during the year, to 363) was coming out with a similar machine...
Remington Rand's electronic calculator, Univac (see RADIO & TV). But the Detroit Times did better with Univac's cousin UDEC (Unitized Digital Electronic Computer). By carefully feeding UDEC the vote from key districts, the Times predicted that Democrat Patrick McNamara would win over Republican Senator Homer Ferguson, even though Ferguson's defeat was not certain until eight or nine hours later...
Probably the outstanding TV casualty of the night was Univac-the giant electronic brain built by Remington Rand and used by CBS to project early returns into estimates of final results. Everybody remembers how Univac predicted a Republican landslide early in the 1952 presidential election and how CBS kept the prediction dark. As a result, Univac was scooped by the returns themselves...