Word: tiring
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TIME stated that the Memphis Press-Scimitar "last week ran a glowing story on expansion plans for a local Firestone Tire & Rubber Co. plant-without mentioning that 2,600 of its 3,600 employees have been laid off." The only recent Press-Scimitar story about possible Firestone expansion in Memphis was printed in the Press-Scimitar on Nov. 19, 1957. Raymond C. Firestone, company president, on a visit to Memphis, was asked by a Press-Scimitar reporter if the company planned any expansion in Memphis in 1958. He replied:'"We have expanded the Memphis plant every year...
...Lucy are sole owners, there is no lag at Desilu when he decides to make a deal. He beat two major bidders for the RKO studios when he strolled off a Lucy set one day last fall and made a phone call nailing down the purchase from General Tire & Rubber Co., RKO's owner since 1955, for a bargain $6,150,000. Desi usually spends ten hours a day at work, chauffeurs himself in his black Thunderbird from the Beverly Hills mansion where he and Lucy live with their two children, Lucie Desirée, 6, and Desi...
...embargo on East-West trade eased. In London last week a Soviet trade mission announced one of its biggest catches to date. With Rustyfa, a combine of British companies, the Russians placed an equipment order of between $28 million and $42 million for one of the biggest tire factories outside the U.S. To be built at Dnepropetrovsk in the Ukraine, the plant will turn out 2,000,000 tires a year...
...silver lining, many editors are solicitously pumping up buoyant bulletins on building permits, bank deposits, airline travel, and other statistics that are normally buried on the business page. Scripps-Howard's Memphis Press-Scimitar last week ran a glowing story on expansion plans for a local Firestone Tire & Rubber Co. plant-without mentioning that 2,600 of its 3,600 employees have been laid off. In Atlanta, the Journal suppressed the news of a layoff of 2,000 Lockheed Aircraft workers last fall until it could report that the factory had found other jobs for some of them...
CORPORATE PROFITS rose 1% in 1957 over 1956, says Manhattan's First National City Bank in survey of 2,474 key companies that account for about one-third of total business earnings. Biggest gainers: tobacco, shoe, drug, steel, and auto companies. Losers: textile, clothing, tire, paper, oil, building-material firms...