Word: rubberizing
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Dates: during 1950-1959
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LeTourneau was the first to put earth-moving equipment on rubber tires, thus enabling it to go almost anywhere. He moved headquarters to Peoria, Ill., and cleared the land for new plant sites with his own equipment. By 1940, sales were up to $10 million. During the war they quadrupled, as LeTourneau built an estimated 70% of the basic earth-moving equipment used by the U.S. armed forces all over the world...
Colored Tires. In New York, the Lefferts Color-Wall Tire Service began processing tire sidewalls to match the color of the car. By vulcanizing a thin strip of rubber to tire sidewalls, the company turns out such hues as robin's-egg blue or Hollywood yellow. Price: $5 per tire...
...Synthetic. The Firestone Tire & Rubber Co. began production of a synthetic rubber which it claims is as good as but cheaper than the famed "cold rubber" synthetic now used in making most tires. The new synthetic is usable directly after coming out of the "hot process" tank, eliminates the need for costly refrigeration used in present synthetic processes. Another advantage: the new rubber will cut costs of future construction of synthetic plants...
Last week, with his auto plant shut down, 65-year-old Powel Crosley finally threw in the towel. In a stock swap, he turned over 317,077 shares (58% control) to Akron's General Tire & Rubber Co. for the equivalent of $63,400, or 20? a share. (Crosley stock, traded on the Curb, promptly fell nearly a point to 1½.) In partial payment of his $3 million loan, Crosley will keep $1.5 million worth of plant real estate, which he will lease back to the rubber company; the balance of the loan will be paid off with stock...
...City, Mo. A friend suggested that he make tires and plug his "home talent" products in the vicinity. "I didn't go for that home talent stuff," O'Neil recalls. "I thought of home talent theatricals and decided we wanted to be on the Broadway of the rubber business...