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...ruin seemed just around the corner for California's Van Camp Sea Food Co., the world's largest tuna-fish packer. Trapped between the rising costs of U.S.-caught tuna and mounting U.S. sales of Japanese brands cheaper than its Chicken of the Sea, the company watched its once hefty profits dwindle to the vanishing point. Recalls one senior Van Camp executive: "It was a question of either dying here or going elsewhere...

Author: /time Magazine | Title: Corporations: Tuna Turnaround | 1/18/1963 | See Source »

...built a cannery. Then, in quick succession, Van Camp bought a cannery in Puerto Rico, set up two freezing plants on Africa's Atlantic coast, and established four canneries in Peru and one in Ecuador. Meanwhile, the U.S. Government helped out by increasing the tariff on Japanese tuna. The result has been a sharp turnaround for Van Camp: in the past ten years, the company has doubled its sales to $73.5 million and turned its former losses into a 1962 profit...

Author: /time Magazine | Title: Corporations: Tuna Turnaround | 1/18/1963 | See Source »

...Camp President Gilbert Van Camp Jr., 41, the happiest result of his company's decision to go global has been its effect on the U.S. tuna fishing industry. To meet the competition of Van Camp's foreign fleets, West Coast tuna fishermen began to abandon their time-wasting practice of "horsing in" tuna with poles, re-equipped their boats with nylon seines that cut costs and increased the catch. They also held down wage demands. As a result, despite its burgeoning foreign operations. Van Camp now buys more West Coast fish than before...

Author: /time Magazine | Title: Corporations: Tuna Turnaround | 1/18/1963 | See Source »

...canning in Indianapolis in 1861, when Gilbert Jr.'s great-grandfather began packing tomatoes; subsequently his offspring began putting up pork and beans. In 1914 the Van Camps sold off the Indianapolis business-which ultimately fell into the hands of the Stokely family-and headed for California and tuna. Though the Stokelys retain the Van Camp name on their pork-and-beans can, the Van Camps no longer have any interest in pork and beans. But they own 60% of Van Camp Sea Food...

Author: /time Magazine | Title: Corporations: Tuna Turnaround | 1/18/1963 | See Source »

...Simultaneously, the New York City Ballet is en route to Moscow. The U.S. dancers took with them dozens of cans of tuna fish, vegetables and soup. Evidently they plan to cook. Ballerina Melissa Hayden reportedly has 24 cans of Sterno in her trunk...

Author: /time Magazine | Title: Ballet: On the Town | 9/28/1962 | See Source »

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