Word: shermanism
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Dates: during 1940-1949
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...obscure corner of Washington's huge Commerce Department Building, two mild young statisticians completed a routine slide-rule job. Their latest release seemed nothing special to small (5 ft. 4 in.), studious Oregonian Tynan Smith and stocky (5 ft. 10 in., 185-lb.), studious New Yorker Robert Sherman (35), the Department's experts on corporation profits. But it came at an explosive moment in U.S. history: labor is howling harder than ever for higher wages, farmers are insisting on higher prices-and the Commerce Department study alleged that U.S. corporations made 18% more money after taxes...
Another factor inflated the Smith-Sherman profit estimates: since the U.S. Treasury does not allow most contingency reserves as a deduction from taxable income, the estimators ignored them in figuring net income after taxes. Yet most large U.S. corporations (and many small ones) have been taking progressively higher reserves for conversion to peace. One index of how such reserves can cut down actual net income (in terms of return to the stockholder): the National City Bank's estimate of first quarter earnings for 260 industrial companies showed a rise of only 7% over the same period last year, despite...
...troops from the field, made 1,500 men surrender to his inferior forces. At Black Creek, in 1863, after five days marching and fighting, he captured the Union's Colonel Abel D. Streight with all his artillery and 1,200 men. So disruptive were his raids that General Sherman once said that Forrest must be taken "if it costs 10,000 lives and breaks the Treasury." Forrest never was taken. At the war's end he weighed a plan to escape with his men to Mexico and go on fighting from there, but rejected it as a fool...
Married. Deborah Harrison Jones, 19, daughter of Charles Sherman ("Casey") Jones, ace airman, trainer of airmen; and Naval Reserve Ensign Scott Scammell II, 24; in Washington Crossing...
...being put into final shape, Lieutenant Edward Hodnett, USNR, has been named officer-in-charge of the unit which will arrive on July 1, Ensign Raymond Adkins, USNR, will be in charge of the physical training program for these men, and Chief Specialists John A. Newman, Richard A. Thomas, Sherman L. Lioyd, and Henry D. Martin are on the staff...