Word: whirlpooling
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After a decade of struggle for survival in the turbulent appliance market, Chairman Elisha ("Bud") Gray II, 56, of Whirlpool Corp., could sit back in his office at Benton Harbor, Mich., and comfortably feel the battle won. Sales -more than two-thirds from making Kenmore "white goods" for Sears (which owns 19% of Whirlpool)-hit a record $465 million last year. Earnings were rising smartly. Appliance Buyers Credit Corp., Whirlpool's 80%-owned subsidiary to finance retail sales of its appliances, turned a profit for the first time in 1962. It earned...
...tripled his total staff to 500, is converting his business from handwritten, single-entry ledgers to computers, has trained a corps of crack salesmen and sent his technicians off to Beirut, England and the U.S. for training. Handling dealerships for such companies as Chrysler, Kaiser Jeep, Gulf Oil, Philco, Whirlpool and National Cash Register, Bader has ridden on Kuwait's boom. Last year his sales included 1,000 cars, 4,000 air conditioners (the Kuwait temperature goes up to 125°), three jet planes, and $600,000 worth of N.C.R. equipment. He is building two apartment projects and starting...
...load of clothes for $1.50 to $2, they were expected to be just as successful. The Norge division of Chicago's Borg Warner Corp. got into the market early and now has 50% of it. Soon 32 other firms followed-including G.M.'s Frigidaire, Whirlpool, Westinghouse, Philco-and the competition was on. Most of the machines were sold not to established and experienced drycleaners, but to investors who swallowed the high-powered promises of "profits while you sleep." Hard-talking salesmen urged investors to take out 90% loans on equipment worth up to $100,000. Many cities were...
Bedrosian went to work on the problem along with some engineers at Whirlpool Corp., more familiarly concerned with manufacturing automatic washers and other home appliances. They built a small generator capable of spitting out just the right amounts of CO2 and oxygen to keep the air in a warehouse ideal for food preservation. With one of Kutty's Tectrol (Total Environmental Control) generators in operation, the storage room no longer has to be sealed. The food-preserving atmosphere is constantly replaced. As a result. Tectrol-treated apples can be kept fresh as long as a year. Apricots, which once...
Right from the start, Bedrosian was so pleased with Tectrol's promise that he wanted to manufacture it for use with home refrigerators. But Whirlpool salesmen said no-it should be used by commercial fruit and vegetable growers. The housewife, they argued, would never go for it. Kutty remains unconvinced. Soon, if he has his way, food in the home refrigerator will be competing for longevity with the navy bean, which is still edible after 20 years of dry, cool storage...