Word: walthams
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Appearing at the forum will be Paul Johnson, management consultant and former president of the Waltham Watch Company; Wilson Palmer, vice-president of the United Shoe Machinery Corporation; and Myles L. Mace, associate professor of Business Administration. As usual, a question period will follow the discussion...
...Alfred Worcester '78, of Waltham is now the oldest living graduate. He received his Medical Degree here...
...costs rose, sales had been dropping. Moreover, during the war, when Waltham and other U.S. plants were on war contracts, Swiss watches had grabbed a large share of the market. And Competitors Bulova and Longines-Wittnauer could import Swiss movements from their foreign plants cheaper than Waltham could make them...
Wind Up? Things looked so bad for Waltham last spring that President Guild-en bowed out in favor of 42-year-old Paul P. Johnson, who had been hired as general manager. But Waltham needed more than new blood; it also needed new money, and it already owed Boston banks $4,000,000. Unable to get the cash, it went into receivership...
...weeks ago Waltham laid off its 2,300 workers. Last week, Waltham appealed to the RFC for a $9,000,000 loan. Pressed by Massachusetts Congressmen, RFC loaned $350,000, with a promise of $650,000 more if the banks agreed. This first transfusion was only enough to reopen Waltham for a few weeks-and with a skeleton force. But President Johnson hoped that there would be more forthcoming, and that he could get Waltham ticking again...