Word: squeezees
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Wilson's latest cutbacks, putting U.S. military manpower at 22% under the 1953 Korean war peak, mostly reflected an increasingly painful Pentagon budget squeeze, in turn caused by the spiraling costs of missile research and development, of complex new electronic devices, of materials and labor generally. Early this spring...
Rare was the company that did not at least increase its sales. And for those whose profits dipped, special conditions were often as much to blame as the inflationary cost squeeze. Union Carbide Corp. laid part of its 2% profit cut (to $34,147,267 for the quarter) to a...
No Profits, No Loans. "Bankers just aren't interested in loaning us money after seeing our books," says Jack Ayer of Trans-Texas Airways, which has never declared a dividend, last year netted barely $10,000 on operating revenues of $5,997,000. Almost every other feeder is in...
Pinch Hitter. In Fredericksburg, Va. Bakery Operator Edwin Young, annoyed at the damage done to rolls and loaves by customers testing their freshness, posted a sign: "The merchandise on this table is always fresh. If you must squeeze something, please call the manager."
The first big cross section of second-quarter earnings reports confirmed the good news already indicated by scattered early returns. Though some companies and industries were caught in inflation's cost squeeze, sales were better than last year for most, and profits were climbing to new records.