Word: contractor
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...only thing that really pains Bill and Jack now is the same headache that plagues many a war contractor, big or small: business is so enormous that their working capital is almost nonexistent. Under negotiation this week is a $2,500,000 bank loan to help E. & M. swing its necessarily swollen inventories. The only other time Bill and Jack ever went to the banks was in 1940, when they took out a 90-day $30,000 loan. Now they are doing so much with so little that, if the war ended tomorrow, they would have only enough cash...
Plus Bonus. The investigating Congressmen got even madder about Maritime Commission's financial arrangements. For building a Liberty ship (average cost $1,800,000), the standard contractor's fee, covering undefined "overhead," is $110,000-based on a par building time of 105 days. Days saved can raise the fee to a $140,000 maximum; days over par can dock it to a minimum of $60,000. Every item chargeable to the building of a ship the Maritime Commission pays. Thus Pete Newell and associates stand to make more than $5 million on the 84 ships without putting...
...idealistic mutual-ownership project dreamed up by Federal Works Agency's Colonel Lawrence Westbrook (TIME, June 2, 1941), Winfield Park's history was so deplorable that Colonel Westbrook could count himself lucky that he is now on active duty, reportedly in Australia. Less lucky was red-faced Contractor Clifford F. MacEvoy, who squirmingly admitted last week that subsidiaries of his MacEvoy Construction Co. had furnished bonding service, excavating equipment, trucks, etc. to the project at third-party profits. He also admitted that his $40-a-week secretary was put on the project (i.e., U.S. Government) payroll...
...Angeles is the home of perhaps the most extraordinary factory feeder: the Anderson Boarding & Supply Co., which calls itself "the biggest subsistence contractor in the world." It serves some 40,000 meals a day from Salton Sea (246 ft. below sea level) to Climax, Colo. (11,320 ft. above) and in many cases houses them too (total cost: $1.75 a day; $1.50 for meals, 25? for rooms). Founded by railroad-camp Flunky William Lancelot ("Billy") Anderson 30 years ago (when he was the first Westerner to provide fresh sheets and milk to camp workers...
Last week the city of Lucknow engaged a contractor to catch Lucknow's monkeys, alive and unharmed, at the rate of one rupee, four annas (39?) per monkey. The city proposed to deport its monkey population to distant forests by special train. Total estimated cost: 10,000 rupees...