Word: boosted
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Among them: ¶ Ford Motor Co. has spent $900 million postwar, much of it from profits, for new plants and modernization. It will spend $500 million more in the next two years to boost its present car-making capacity of 2,378,000 a year by another 30%. The new plants will span the continent: a $100 million assembly plant near San Francisco, a $75 million plant near Louisville, and a $90.0 million one at Mahwah, NJ. Other millions will be spent to almost double the facilities of present plants in Cleveland and Cincinnati, retool a tank plant at Livonia...
...expected, U.S. Steel and the other major producers last week announced an increase in the price of steel. There was no across-the-board boost. Instead, the increase was in "extras," i.e., charges tacked on base prices for special processing of such products as carbon steel bars and rails. The rise in extras, steel users estimated...
...loans and FHA mortgages from 4% to 4½%. The aim was to draw more new money into the home mortgage market, which had just about dried up at the old 4% rate. With construction already running 6% ahead of last year, the housing industry expects that, with the boost in interest rates, the number of houses built this year will be over 1,000,000-the second biggest year on record...
...companies with gains had sold harder to get it. Westinghouse, for example, had to boost its sales 18% in order to get half that big a rise in its net profit ($16.9 million). But its bigger rival, giant General Electric, boosted sales 39%, to $777.8 million. G.E.'s President Ralph Cordiner was so optimistic that he figured his profits on the assumption that the excess-profits tax will die in June, thus showed a thumping 58% rise in profits ($45.8 million), from $1.01 a share to $1.59. If the tax doesn't die, G.E.'s profit will...
...boost the profits, Nance has turned Packard upside down. When he took over, Packard had several things to its credit: a solid cash position, a restyled car, and one of the best engineering divisions in the auto industry. But dealers were overloaded with cars, sales were slow, and the payroll was heavy with deadwood...