Word: paid
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Dates: during 1940-1949
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Roger B. Hunt '52 received the remaining $35 owed him by Armand J. Fournier, local furniture dealer, yesterday. Hunt had ordered and paid $45 for a refrigerator that Fournier allegedly failed to deliver, and had threatened court action to regain his money...
...until the client is satisfied. He also has an almost hypnotic power to impress, persuade and convince the toughest tycoon. Even the American Tobacco Co.'s late George Washington Hill, who used to frighten advertising men out of their wits, wilted under Loewy's gentle suasion. He paid him the whopping fee of $50,000 just for designing a new white package for Lucky Strike in 1942 ("Lucky Strike green has gone...
...home, he met Britain's Sigmund Gestetner, maker of a famed old duplicating machine whose design had not been appreciably changed in 30 years. Loewy lugged the duplicator up to his apartment and built a clay model embodying his ideas. Gestetner liked it so well that he paid Loewy $2,000 for it and used the same design for 15 years afterward. (Gestetner paid him a yearly retainer not to design for any competitor.) Overnight, Fashion Artist Loewy decided to become an industrial designer...
...from top to bottom, chopped off the legs, and installed the first non-rusting aluminum shelves ever to be used in a refrigerator. The Coldspot became a single smooth, gleaming unit of functional simplicity-and with it Sears' sales shot up five-fold by 1936. Loewy had been paid only $2,500 for the job (and had spent nearly three times that in expenses), but Sears was glad to pay him $25,000 for his next job. His reputation was made...
...report dispelled any idea that the dollar shortage is something new; it started 35 years ago and has grown steadily worse ever since. Between 1914 and 1949, America's exports exceeded her imports by $101 billion. This "socalled favorable balance of trade," said the report, was largely paid for by $68 billion in Government loans & grants to Europe and more than $10 billion in private gifts. These grants "have in effect been unconscious subsidies to American export industries" at the expense of American taxpayers. The subsidies could be eliminated, or at least cut, only by drastic changes...