Word: johnstons
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These timely words from U.S. Chamber of Commerce President Eric Allen Johnston appeared last week in the New York Times Magazine. The battle is joined between capitalism and socialism, said Johnston, but most American businessmen do not know the shooting has started. They are still giving "little more than lip service" to the faith in private enterprise they profess. Economic freedom in the U.S., said he bluntly, is still "the privilege of a few individuals." If capitalism is to prevail, it must be possible "for every man to call himself a Capitalist." Every man must have a financial stake...
Place a Bet. The wellspring of American capitalism, Johnston argued, is the American fondness for taking chances. "The human element in the capitalistic system is the recognition of man's innate urge to take chances, to be respected, to be recognized, to be a man and not a number. But the average American today is frustrated by his inability to bet on himself....The average American can count on nothing but his pay envelope, and in bad times, sometimes not on that....He feels that he bears no direct relation to the ultimate result of the profit system when...
Collect the Winnings. Eric Johnston's own method of letting his employes* take a chance was to set up: 1) a profit-sharing plan (this year the employes will divvy up 25% of net operating profit before taxes and dividends, in addition to their salaries and wages); 2) a "junior board of directors," composed of employes who make suggestions to management on company operations...
...amount of cutting short of a total ban can rob "Scarlet Street" of its oppressive naturalism, of its rough sketch or unpleasant characters, illicit love, and miscarried justice. That the Johnston office passed it in the first place is gratifying, for it flies in the face of the precepts of movie morality set up by Will Hays...
Divorced. James Vincent Sheean, 46, best-selling journalistic bird of passage (Personal History, Not Peace But A Sword) ; by beauteous Diana Forbes-Robertson Sheean, 31, youngest daughter of oldtime actor Sir Johnston Forbes-Robertson; after ten years of marriage, two daughters; in Reno...