Word: tooling
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Dates: during 1940-1949
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...machine-tool makers, first U.S. industry to be called a bottleneck, have worked like Sisyphus* to get out of that category. In two years they boosted their payrolls from 43,000 to 110,000 men, their deliveries from $200,000,000 to $840,000,000 (1939-41). By Pearl Harbor they had reached a delivery rate of $100,000,000 of machine tools every month...
...Washington. Fearing the great disturbance such a tremendous production program would cause in industry's life made the managers wish to dodge Uncle Sam's pointed finger. Despite Pearl Harbor's supposed unifying effect many of the most vital industries are not producing up to capacity. The machine tool industry, necessary to the production of defense material from airplanes to compasses, is operating at 64 per cent idleness. The Detroit District, the nation's center for the industry, has not been more than one-third effective for the past three years...
...years, almost since welding became a major tool of modern construction, welders have had peculiar troubles. They are generally migrant workers. The A.F. of L. has never granted them an autonomous union. They have been forced to join whatever A.F. of L. union had jurisdiction over the job they happened to be working...
...Street medals when he recovered from a pre-crash partnership in the old Otis & Co., went into business for himself. A brave man with a shrewd sense of the times rare in the nostalgic Wall Street of the thirties, he specialized in "little blue chips" (Square D, Monarch Machine Tool, Cleveland Graphite Bronze, Victor Chemical), while the rest of the underwriting fraternity still clung to the dwindling lists of 'more "respectable" (i.e., larger) corporate offerings...
Even so, K. & T. remained small (1938 sales $4,257,000) until the fall of 1939, when the French Purchasing Commission handed K. & T. the biggest single machine-tool order in U.S. history up to then: $13,000,000 for 1,415 millers. K. & T. rushed floor-space additions, hired workers right & left, started a 168-hour work week. Since then K. & T. has hummed night & day on orders from aircraft, tank, truck and gun makers. Its 1941 sales were about $36,000,000, its profits about $5,000,000, equal to $12.60 a share...