Word: sloan
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...years. Last week, with deep restraint, the Met announced that it was actually mulling a rough plan. The plan, first proposed by city officials last spring: build a new Metropolitan Opera House as part of a general face-lifting project for Manhattan's Columbus Circle. George Sloan, Met board chairman, announced that the board now has a pledge (pledger unnamed) for 40% of the land cost (about $1,250,000), said he was confident the remaining 60% could be raised. Next question: Where to get $15 million for a new opera house...
There will be no public fund drive until at least a third of the $15 million has been raised privately, said Sloan. Since that may take a long time, plans are still little beyond the dream stage. Nonetheless, the Met is busy dreaming...
...hike in taxes) would bring a much sharper cut in earnings. G.M. was right. Though total sales were actually up slightly over 1950 (to $3.9 billion), G.M.'s net fell 42% to $280 million, its margin of profit from 11% to 7%. The drop, explained Chairman Alfred Sloan, showed the effect of lower passenger car sales, higher taxes (up 40% to $508 million), higher costs without compensating price boosts and "the lower margin of profit realized in defense work." As low-profit defense work becomes a major factor in total production, it will cut earnings of other companies well...
...federal officials began to discuss what could be done for the future. Major General Lewis A. Pick, Chief of Army Engineers, told the congressional committee that the whole disaster might have been averted had $300 million been appropriated for flood-control projects in that area under the Pick-Sloan Plan. But that was not done because there was local opposition to using large areas of farm land for reservoirs, differences of opinion on how the job should be administered, people who thought the plan too ambitious and too full of pork barrel. Said General Pick: Let's get going...
American Inventory (Sun. 8 p.m., NBC-TV), the Alfred P. Sloan Foundation's survey of U.S. economic and social problems, opened with an impressive cast -Singer Gladys Swarthout, General Motors' Charles F. Kettering, Judge Samuel Leibowitz, Baseball's Jackie Robinson, ex-Budapest-Prisoner Robert Vogeler-none of whom seemed at ease with a pompous script...