Word: two
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Dates: during 1950-1959
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...basic day's mileage pay from 100 miles to 160 miles. The 100-mile rate was established in 1919, when freight trains averaged 12½ m.p.h., passenger trains 20 m.p.h. Today it means that a railroader can do his day's work in as little as two hours. ¶ Wipe out the distinction between the work performed by road crews and yard crews, thereby allowing full interchange of labor without duplicated effort. ¶ Eliminate firemen's jobs on diesels and other non-steam locomotives in freight service and switchyards to realize a saving of $200 million...
Amidst the third-quarter earnings reports and stock-split announcements last week there was a standout: Westinghouse Electric Corp. With the company's nine months' earnings soaring ($3.17 per share v. $2.79 in 1958) on only slightly higher sales than last year, its directors recommended a two-for-one stock split, boosted the annual dividend rate from $2 to $2.40. For Westinghouse, the nation's oldest (73 years) and second largest electrical equipment maker (first: General Electric), the split climaxed a three-year drive to reorganize the company and recover from a crippling five-month...
...option seller to avoid big losses, Filer cites two rules: 1) never sell a call option unless you own the stock, since you may have to buy it at a higher price if the call is exercised; and 2) never sell a put option unless you have the money to pay for the stock if the stock is put to you. "Following these rules," says Filer, "the risk in selling options is no greater than the risk in owning stocks...
...Manhattan last week went two eager makers of business machines with audacious plans to challenge the International Business Machines Corp. in IBM's home market. The foreign businessmen: President Joseph Callies, 50, and General Manager Georges Vieillard, 64, of France's fast-rising La Compagnie des Machines Bull. Barely known outside France ten years ago, Machines Bull manufactures a line of punch-card and sorting machines topped off by computers. Recently it pulled abreast of IBM in many markets of the Continent, is now the biggest computer maker outside...
...went to Union College in Schenectady, N.Y. before joining Pennsy as an engineering trainee in 1928, highballed up the corporate track, was boosted to vice president in 1955. Along the route, he distinguished himself by making fast decisions, stopping the buck at his door. Married and father of two sons, he is used to putting in a ten-hour day, gathering his own facts by pounding the rails. As chief administrative officer, he will be in charge of the road's everyday operation, will have even less time for the golf and woodworking that he enjoyed before the lightning...