Word: procters
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...Procter & Gamble...
...report to his 48,000 stockholders, Procter & Gamble Board Chairman Richard R. Deupree last week preached a short sermon on U.S. industrial efficiency. Said he: "With wages and taxes equivalent to 40 times the wages and taxes of 66 years ago, with raw material prices three times what they were, a cake of soap [Ivory] that cost 5? in 1885 costs less than 10? today. That's a solid contribution to the American standard of living...
Other textile manufacturers followed suit, planned cutbacks of 10% to 50%. There were also spreading cuts in wholesale prices, not only in textiles but in soap (Procter & Gamble and Lever Bros, cut 11%) and in shoes...
...while it looked as if TV might escape the daily soap opera. Du Mont, after five sponsorless months, dropped A Woman to Remember. In a one-month sustaining run, NBC was unable to sell These Are My Children. But this week, with Procter & Gamble's The First Hundred Years (weekdays 2:30 p.m., CBS-TV), commercial daytime soap opera put a determined toe in the television door...
Babb has no delusions about the toughness of his new job. He knows that Lever Bros., caught napping in the booming field of detergents, had also been demoralized by Luckman's ruthless head-chopping, and had slipped competitively far behind Procter & Gamble (TIME, May 8). Said Babb bravely: "Some people hate being in a tight spot. They like things to go well and to be confronted with no difficulties. I like things hard." Nobody doubted that he would find them that way at Lever Bros...