Word: sloan
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Labor had nicknamed aloof, reserved A. P. Sloan "the undertaker." Some of his associates call him "Silent Sloan." But not to his face; they always address him as "Mr." His immense wealth ($43,000,000 in G.M. stock alone) has somehow connected him in the public mind with Wall Street financiers...
Actually, A.P. Sloan is probably the most functional, frill-less piece of human machinery in the U.S. industry hierarchy. He is also close to being its top industrial statesman. Once an associate likened him to a bearing, "self-lubricating, smooth, eliminates friction and carries the load...
...running of G.M. is his work, hobby and dissipation. He does not smoke, takes only an occasional cocktail and has never played golf or any other sport. Sports, Mr. Sloan firmly believes, are an unprofitable waste of a man's time...
...economic or technical matters. He has developed the knack of boiling his own economic ideas down to clean, bare bones. Sample: "The whole objective of industry should be to reduce prices. That's what produces employment and expands business." The Way Up. Unlike many another G.M. bigwig, Mr. Sloan did not drive himself to the top by his own supercharger...
...help of his father, he got a job as draftsman in the Hyatt Roller Bearing Co. at Harrison, NJ. John Wesley Hyatt, who had invented celluloid, was trying to make a go of a new bearing, with little success. When the company was about to go on the rocks, Sloan Sr. bought a controlling interest in it, put in his son to run it. For months, it was touch & go whether the company would continue...