Word: contract
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...been ordered as a routine refill by the San Antonio Quartermaster Depot. They were to be made of reclaimed rubber in combination with alloys, would not require more than 750 lb. even of reclaimed material. Furthermore, said the War Department, the San Antonio Depot had no authority to award contracts, had simply asked for bids. Somebody in Washington (the Department wasn't quite sure who) would certainly have vetoed any contract calling for rubber. So there...
...rubber industry's war work is rubber. Biggest surprise is Firestone's $20,000,000 order for 40-mm. Bofors anti-aircraft gun mounts and carriages. Weeks ahead on this contract, Firestone is also turning out machine-gun clips, other metal war goods. Goodyear is making sub-assemblies for Martin bombers. Goodrich makes fuel tanks and operates a $35,000,000 ordnance plant in Texas. U.S. Rubber makes zippers ("Kwik") for uniforms and operates an $86,000,000 arms plant in Iowa...
...Next most onerous Presidential chore is approving at least 100 bills a session authorizing bridge construction or extending the permissible contract times. In order to save time & money, the President suggested that Congress delegate this chore to the Secretary...
Losses were incurred in some cases: chiefly naval defense housing, where the profit average was lowest (3.89%); and naval aviation contracts, where expensive specification changes caused 30.78% of all contracts to suffer losses, and the profit average was 4.59%. Highest individual profit on a contract was 247%-which may have been on a dinky contract. The committee found no cause to regard the high returns as shocking...
...This figure has nothing to do with a return on invested capital, is merely the margin of profit per order figured on this rule: "Where the amount of the contract and the profit was shown, cost was determined by deducting the profit from the amount of the contract; where the cost and the profit only were shown, the amount of contract was determined by adding the profit to the cost." In some businesses a 1% margin of profit is adequate; in others 100% may be none too large for an adequate return...