Word: roebuck
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...Judson B. Branch, 50, senior vice president of Sears. Roebuck's Allstate Insurance Co., became president, succeeding Calvin Fentress Jr., 49, who moved up to board chairman. Born in Coldwater, Mich., where his family still operates one of Michigan's oldest retail stores, Branch was hired by Allstate for its auto-insurance operation in 1934, has stayed on ever since (except for World War II service as an Army corporal), rising to treasurer, vice president and senior vice president...
...often criticized as a materialistic philosophy. On the other hand, argue thoughtful businessmen, the most hopeful achievement of the U.S. economy has been to free men and women from soul-destroying drudgery and want, raise educational levels, expand leisure time for the enrichment of self and society. Says Sears, Roebuck Chairman Theodore V. Houser: "As we have prospered and grown in an economic sense, we have also grown in the direction of achieving the goals the great religious and moral leaders have long envisaged for the great masses of people...
...despite an overall premium increase, the companies are heading into the red. State Farm Mutual, No. 1 U.S. auto insurance company (4,600,000 policies) expects to wind up with a $7 million to $10 million operating loss (v. a 1955 underwriting profit of $14.8 million); Allstate (Sears, Roebuck), just broke even in the first half of 1956 (v. an $11 million underwriting profit last year...
...economy growing too fast? The question is one that thoughtful U.S. businessmen are pondering with increasing concern. Instead of slowing down, as most businessmen had expected last spring, business has boomed higher and higher, picking up momentum every month. Warns Sears, Roebuck Chairman Theodore V. Houser: "With industry operating at capacity, inflationary pressures are created which spill over into labor, new materials, prices and demands for all forms of goods and services." Adds David Rockefeller, executive vice president of the Chase Manhattan Bank: "We have reached a point where we stand on the verge of trying to grow too fast...
...angel-food cake recipes while Doug attacks Wayne Morse ("that fellow has gone back on his word so many times that nobody can trust him") and reminisces about his Oregon youth ("The only reading matter we had was the St. Helens Sentinel-Mist, the Bible and the Sears, Roebuck catalogue"). Glowed a recent convert to McKay's cause: "Just look at old Doug-the second Cabinet member* Oregon's ever had, and he's cornier than ever...