Word: rayons
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...trips in his DC-3, he likes to point out Monsanto's contributions to his plane: fire-retarding control surfaces, stain-proof upholstery, the plastic-covered table and plastic dishes in the galley. Among Monsanto's more arresting new inventions: Resloom, a chemical that promises to make rayon creaseless, cotton wrinkleless, and keep wool from shrinking...
Secret Process. Dave Bazelon held some strong notions about how to run the companies. He thought the two rayon firms were making too much money (last year they had netted $5,700,000 on $37 million in sales). He also suspected that some of their customers were reselling their rayon in the grey market...
Bazelon got the FBI to investigate. Its agents marked outgoing rayon by a secret process, and traced it through the grey market. The FBI estimated that 10-15% of North American and Bemberg's output was being resold at prices up to $4 a pound, four times the factory price...
Public Exit. That was proof enough for Bazelon. At a directors' meeting he insisted that the companies sell their rayon to more buyers, police each one to see that no rayon got into the grey market. The company said that was impossible...
There was more trouble when Du Pont and other competitors raised their rayon prices in December. Bazelon vetoed any price hike for North American and American Bemberg. He ordered them to continue selling at 10% below the general market price. The irate directors resigned in a body...