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...allowed profit on Navy contracts and Army aircraft contracts from 12 to 8%: "There are two reasons. The reduction in . . . profit . . . has made it very difficult for the aircraft manufacturer to place subcontracts [which] work out about 5% net profit . . . it just does not interest [the sub-contractor]. . . . The other and major reason, however, is the lack of definite legal provisions under which they can . . . carry out this contract. They do not know where they stand...
...planes). The Navy's chief shipbuilder, Rear Admiral Samuel M. Robinson, testified that, despite difficulties, "we have been able to go ahead with our shipbuilding program . . . we are not being held up." He was contradicted next day by Rear Admiral William Rea Furlong, who told the same Senate sub-committee that the shipbuilding program had been seriously held up ("progress has stopped on the procurement of materials that go into the ships"). Two of his examples: U. S. Steel Corp. had postponed construction of a $4,000,000 mill to make Navy steel; subcontractors refused to make 144 anti...
Last year, both U. S. world's fairs lost money, and for the same reason: sub-estimate attendance. This year, both fairs reopened under new management, new policies. Banker Harvey Dow Gibson took over New York's World's Fair of 1940, cut prices and stressed "Fun!! Fun!! Fun!!" at Flushing Flats. Chamber of Commerce President Marshall Dill and Vice President William Monahan took over San Francisco's Golden Gate International Exposition, cut prices and sloganed: "Let's have a good time" at Treasure Island. Last week the Dill slogan looked a little better than...
...York's fair still suffered from sub-estimate attendance. With 9,600,000 paying guests clocked to date, Banker Gibson expected 17,000,000 for the full season, against earlier estimates of 25,000,000 plus. But revenues were bigger than expenses, and bondholders, who watched the 1939 World of Tomorrow wind up leaving them $23,983,000 in the hole, may eventually get back 25 to 35% of their investment (counting interest payments as principal...
...enlightening. But this one did not quite live up to its promise. Valuable is its firsthand account of the rise of the Nazis and the Strasser role in it. Valuable too were the intimate glimpses and records of Nazi big shots; of Hitler in conversation with Ludendorff, Hindenburg, his sub-leaders; a vivid account of the June Purge, its debunking of Hitler's part in it; the chronicles of the Gestapo at work, with ambushes, escapes, assassinations...