Word: scripto
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Dates: during 1950-1959
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...Time for Margin. At the semiannual meeting of the Commerce Department's Business Advisory Council, the nation's top industrialists worried that tight money might force cutbacks in industry's expansion plans. Said Scripto's President James V. Carmichael: ("There's no question the tightening of credit has put a slight damper on our long-range planning." Department Store (Daniels & Fisher) President Joe Ross worried that the money shortage might cut back on Denver's "tremendous growth." Complained Ross: "The cost of expansion is prohibitive because of the money rates." But few businessmen...
...When Scripto, Inc. and Parker Pen Co. each announced that they had a new kind of pencil that writes with liquid graphite and never has to be sharpened (TIME, Feb. 7), everyone in the industry expected a dingdong patent fight and a sales battle. Scripto's "Fluidlead," already on the market, was a 49? pencil; Parker's "Liquid Lead," a model at under $5, was to be brought out in the spring...
Last week on Valentine's Day, instead of scrapping, the two companies kissed and made up. To avoid the expense and confusion of a long patent battle, Scripto and Parker signed an agreement (in ink) that will allow them to use each other's formulas for a royalty. Scripto, as it has previously, will concentrate on the low-priced field; Parker will stick to the higher-priced pencil. Both companies will use Parker's Liquid Lead name, hoping that the agreement will discourage the kind of fly-by-night competition that almost ruined the industry...
Prospective competitors would have to move fast indeed. Scripto is already producing 60,000 fluid graphite pencils a day, is sold out well into May. Said Scripto President James V. Carmichael: "By the time we catch up with present orders, we will be 3,000,000 units behind...
With his capsule pencil, Carmichael hopes to cut deeply into sales of regular pencils, some 1.5 billion of which are sold yearly. Although the capsule model is more expensive, Scripto claims that one cartridge lasts about five times as long as a standard pencil, makes the long-term cost about equal. Biggest advantage: the point will not wear down...