Word: backe
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Dates: during 1940-1940
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...continued to fall. The National Labor Relations Board underwent a personnel shakeup, but Wagner Act modification was less likely than ever. Government regulation in general, previously little more than a list of "Don'ts," began to turn into positive control. Every well-editorialized reason why Business should hold back was more conspicuous than ever...
Knowing the economic consequences of war, businessmen naturally disliked the defense boom. They were swept downstream almost against their will, steering as cautiously as they could. They ploughed their profits back into debt retirement or new plant, drove good bargains with the Government in answer to its demands for industrial expansion. When the boom ends, this caution may help Business to face a buyer's market with efficient plant, low overhead-may ease post-war adjustments. But the engine of industry did not speed up because of confidence burning within. It was sped up from without by the energy...
...equipment makers, tired of waiting, took new business offered by other sectors of defense. American Car & Foundry filled part of its echoing, long-empty car sheds with $21,500,000 in tank orders, which (along with nearly $30,000,000 of shells, armor plate, etc.) almost put its common back into the black. American Locomotive got $38,000,000 of Army orders, paid off $5 a share on preferred arrears. Even Pullman, ever faithful to the rails, took on some arms work. If defense traffic sends the roads into the equipment market next year, they will find a crowd ahead...
...executive of U. S. Steel, left out of a fishing trip because he snored, invented an anti-snorer to wake him up when he rolled on his back...
...years steel's most spectacular moneymaker was cigar-chewing Ernest Weir, whose modern mills put competition back into the steel business. In 1940 he yielded his news value to others. Mr. Weir is a salesman, and in 1940's market all the salesmen went fishing. It was a productionman's show. Shrewd Old Dealer Eugene Grace opened his mouth just wide enough to lap up the cream of the business. He also took the lead in cooperating with the New Deal's exhortations to expand: $100,000,000 worth, half of which was Government money...