Word: thrifting
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COUPLING yesterday's sense of thrift with today's management-by-computer techniques, John Eldred Swearingen, 45, has sharply raised earnings in the five years that he has been president of Standard Oil (Indiana). Last week he took pride in a 35% earnings jump to $140 million for the first nine months of 1963, and in winning a big oil concession in Egypt. One of the youngest men ever to head a major U.S. oil company, South Carolina-born Swearingen joined Standard as a chemical engineer at 20, rose through research and production to become president...
...clear that these observations are by no means limited to the physical sciences. The introduction of Keynesian economics represents an exactly similar situation. A key aspect of Keynesian theories is that a classical economics based on truisms relevant to the individual (thrift, savings, income greater than expenses) does not automatically apply to an entire economy. One may safely assume that the significance of Keynesian economics has been discussed at the Cambridge High Table without delving into marginal propensities. Consequently, I would disagree with Mr. Crichton and argue that the significance of non-conservation of parity also could be discussed there...
When young Johnny Schlesinger took the helm of South Africa's sprawling Schlesinger Organization in 1949, many observers expected to witness another sad case of like father, unlike son. Patriarch I. W. Schlesinger had built his $84 million real estate and cinema-chain empire on thrift, hustle and an eye for the shape of things to come. At 26, Son John was a Harvard-educated playboy with plenty of hustle in a speedboat race and a keen eye for judging beauty queens. But John Schlesinger, after 14 years of stewardship, has fooled everyone. He has not only preserved...
Catching his international competitors with their flaps down, Pan American World Airways President Juan Terry Trippe last week proposed a new "thrift class" on jets to Europe. Instead of one-way economy tickets to London that now sell for $270, Trippe would offer the ride for $160 on planes with the same amount of leg room but no meals or hard drinks. The government-owned European airlines, many of them losing money on the run, are expected to howl, but Trippe argues that they would actually increase profits by packing in passengers where galleys used to be. On a Boeing...
...European lines, and others on the North Atlantic run, may also be moved by Trippe's argument that a flat thrift-class rate would enable airlines to rid themselves of a variety of cut-rate plans that complicate ticket selling. Trippe would stamp out many of the scarcely profitable charter flights, on which 12% of all airborne U.S. tour ists will go to Europe this year for as low as $250 round trip. Pan Am's low fare would also eliminate the 25-person group flights ($310 round trip to London), as well as the 21-day excursion...