Word: siragusa
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...action of the FCC is a threat to the American way of life." A CBS suggestion that TV customers might wait six months before buying new sets had forced it out of business, declared Sightmaster Corp., which sued CBS for $750,000 damages. Admiral's vocal President Ross Siragusa says: "I just think CBS is barking up the wrong tree in this one. I've got high hopes for RCA. But they have got to get going and make their system work. Then we'll buy that...
...small firms (Tele-tone, Celomat, Muntz, Belmont, etc.) that had originally announced they would make CBS color equipment were added such sizable names as Westinghouse, Bendix and Sears, Roebuck. The industry heard rumors that many another company would soon start making CBS color sets. Even Admiral's Siragusa is making a small concession: if the CBS system wins in the courts, each Admiral set will be equipped with a "jack" into which CBS adapter-converters can be plugged. Meanwhile, Frank Stanton and CBS, convinced they have something the public wants, intend to continue unsponsored "experimental" public demonstrations...
...great surprise, the television set makers made one of the prettiest profit pictures. Radio Corp. of America, the biggest U.S. set maker, netted $12.4 million (v. $3.9 million in 1949), and its nine-month total of $33.3 million exceeded any full year in the company's history. Ross Siragusa's mushrooming Admiral Corp. more than tripled its net to $5.2 million for the quarter...
When television sales began to blur several months ago, Admiral Corp.'s President Ross Siragusa thought he had the answer. By stamping entire console cabinets out of plastic in one piece (TIME, May 16), he was able to step up output and make some handsome price cuts. Last week it looked as though Siragusa's answer was right. Admiral Corp. had a second-quarter profit of $1.6 million, 129% more than its net for the same 1948 period...
This week Dom was turning out 225 cabinets a day at one-half to one-third the cost of wooden ones. In them Brother Ross was installing 10-inch screen television sets. The price: $249.95, about $50 cheaper than the closest competitive model. Siragusa raised Admiral's 1949 production goal from 400,000 units to 500,000, planned to spend $1,000,000 this month alone in advertising...