Word: salesmen
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Dates: during 1950-1959
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Over rutted Brazilian jungle trails last week jounced a task force of clay-spattered, green-and-yellow jeeps, carrying as incongruous a crew as ever penetrated the steaming wilderness. They were securities salesmen, hardy young men carrying briefcases, who were on their way to sell a 208 million-cruzeiro ($1.6 million) issue of stock in Willys Overland do Brasil to back-country natives who had never even heard of Wall Street...
Fighting dirt, dysentery and distrust, the salesmen are specialists in a unique investment operation known as Deltec S.A. Founded by a hard-driving Princetonian ('35), Clarence J. Dauphinot Jr., 44, Deltec has pioneered in raising investment capital in Brazil to develop new industries for the country and set a pattern that others are copying. Dauphinot, a onetime Wall Street foreign-bond trader, got interested in the project during trips to South America for Kidder, Peabody & Co. during World War II. He found that while Brazilian industry was starving for capital, money was stagnating in savings accounts and sewn...
...stock to some 50,000 Brazilians, 80% of whom, Dauphinot estimates, had never owned stock before. The buyers put their money into such Brazilian subsidiaries as Squibb, Dunlop, Willys, General Tire, Lone Star Cement, I.T.&T. and Brazilian department-store, telephone, textile, cement and steel companies. Dauphinot's salesmen also sell investment trust shares for as little as 100 cruzeiros...
...promotion drive is long overdue. As in the automobile business, salesmen have become order takers waiting for customers to come in; seldom have they gone out and solicited the most likely customers-newlyweds, new parents, new homeowners. Yet furniture men are the first to admit that promotion alone is not enough. The real remedy for the industry's ailments is to produce better-styled, lower-priced furniture. Kroehler recently brought out a medium-priced line (see cut) that follows the new trend of matching pieces for all rooms, and it is selling well. With it, a family can furnish...
...other hand, Denver's subcontracting Stanley Aviation Corp., whose business is down 15%, decided that the problem was not too many executives but too few. It added new executives in production control, cost accounting and sales. "When do you add salesmen?" asks President Robert M. Stanley. "When you have more orders than you can fill, or when you don't have enough?" For similar reasons, cameramaker Bell & Howell this year tripled its ad and sales promotion budget to $600,000 for the second quarter as part of President Charles H. Percy's antirecession campaign, while Reynolds Metals...