Word: savely
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Dates: during 1950-1959
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...would have taken a Santa with a bag of $15 million to $20 million to save Crowell-Collier's fast-failing magazines (1956 deficit: $7,500,000). In the past ten years, as Crowell-Collier went from a profit of $6,500,000 to heavy losses, managing editors had swept in and out of office like French Premiers. More than $10 million in new capital had been pumped into the company since 1953, when aging Wonder Boy Paul Smith, now 48, came in from the money-losing San Francisco Chronicle as a $40,000-a-year troubleshooter. Smith raised...
...control of the company by converting its debentures into 600,000 shares of common stock, although actual control (400,000 shares) was in the hands of Manhattan's Publication Corp., whose subsidiary publishes This Week magazine. Last week Lannan's group and Publication Corp. got together to save what they could of Crowell-Collier...
...Help. The save-the-pound operation would have been impossible without firm support from the U.S. Treasury, the wealthiest and most powerful of the fund's 60 members. But it involved no new out lay by the U.S.; Washington had already subscribed the money to the fund as part of its quota, just as Britain had subscribed $1.3 billion, and now the U.S. simply made the cash available. This way of helping Britain suited Treasury Secretary George Humphrey; he did not have to ask Congress for the money. The U.S. decision to use the fund as the main instru...
BIGGEST ATOMIC POWER plant in free world will be built near Glasgow, Scotland, generate about 360,000 kw. by 1961, save 1,000,000 tons of coal yearly. Combine of British General Electric-Simon Carves will put up $100 million plant. Over next decade, Britain expects to build 17 nuclear power plants at cost of $1.2 billion...
...technicians, the Air Force is convinced that it is nonetheless getting a bargain-even though private contracts often cost more than military work. The expensive alternative, the Air Force recognizes, would be to invest heavily in new maintenance plants, hire more civil-service employees. The Air Force can even save money 'by utilizing the prime contractors who are producing planes and missiles, are already tooled up to repair and overhaul the weapons. Lockheed Aircraft, for example, has set up a separate subsidiary just to handle maintenance and overhaul, now employs more than 6,000 people, expects...