Word: procters
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Nothing makes happier reading for businessmen than profit figures, and the reading has been very good of late. Last week U.S. corporations continued to report new profit highs. Among them: Litton Industries (up 43% for the fiscal year), Procter & Gamble (up 6% for the year), CBS (up 33% for the first half), I.T. & T. (up 13% for the half) and Ampex (up 6% for the quarter...
Minihan was chairman of the Harvard Council for Undergraduate Affairs, activities coordinator for the Quincy House Committee and a member of the Combined Charities board of overseers. A former junior usher, he holds the Procter and Gamble Scholarship. Under Minihan's chairmanship, the Council regained its prestige and efficiency in dealing both with student and Faculty...
...weaker originators are frequently swamped. In industry, this is now known as the Lestoil syndrome because of the experience of Lestoil Products of Holyoke, Mass. Lestoil scored a hit with its liquid household cleanser and gleefully watched sales climb to $25 million. Then Lever Brothers followed with Handy Andy, Procter & Gamble with Mr. Clean; recently Colgate weighed in with liquid Ajax. Lestoil's sales have fallen to $16 million, and the company has had to stop paying dividends...
...newer, better or flashier things. The race to get to the consumer first has forced companies to shorten their product development time, and in some cases has actually made the product secondary in the sweat to sell it. Chicago's Alberto-Culver was so eager to beat Procter & Gamble's Head and Shoulders shampoo to market that it filmed the TV commercials for its Subdue shampoo even before it had developed the product...
...lure of a 1960 tax incentive law. Socony Mobil Oil, Allied Chemical and a Chinese partner have set up a $22,500,000 joint fertilizer venture. American Cyanamid has joined with the Taiwan Sugar Corp. to set up a $2,000,000 antibiotics plant. Together with Chinese partners, Procter & Gamble is building a detergent-manufacturing plant. Atlas Chemical an industrial dynamite plant. Singer sewing machine, Harvey Aluminum and Gulf Oil plan to come in soon...