Word: third
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Dates: during 1940-1940
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...newshawks in Detroit last week heard that 400 six-cylinder engines were in the huge River Rouge Plant, guessed the 1941 Ford line would include a six. (Other sixes, especially Chevrolet and Plymouth, have cut into Ford's market, reduced him from first place in 1930 to third in 1940.) Fordmen were mum, but Ward's Automotive Reports said: "Sample [six-cylinder] models are now being turned...
...fronts at once: contractors, suppliers, union leaders. In Pittsburgh, after he got an indictment of twelve contractors and a trade association, the low bid on a municipal hospital dropped from $152,000 to $117,000. The investigation leading to the indictment cost $10,753, less than one-third the saving. In his Chicago milk case, involving dairies, the drivers' union and the Board of Health, Arnold figures prosecution cut Chicago milk prices by $10,000,000 a year. His next big target: food distribution, now under investigation. Such attacks, argues Arnold, by increasing U. S. consumer purchasing power, help...
Like G. E., like Pullman, Inc. (indicted in July), like Aluminum Co. (entering its third consecutive year in the courts), many of Arnold's corporate victims are vital cogs in defense. Arnold himself confesses that an anti-trust indictment, even if successfully defended, is itself a punishment, "a financial hazard which should not carelessly be imposed on business." It is also demoralizing to the executives indicted and takes their valuable time. Hence, with the Defense Commission seeking all the businessmen's cooperation they can get, the heat is on Arnold to go slow...
Since 1930 more than 100 railroads (almost one-third of the nation's railroad mileage) have relapsed into receivership or bankruptcy. While investors wait, their $6,000,000,000 of capitalization is slowly unraveled in the courts. Last week ICC reported what it has done to help them: 1) approved or recommended cuts of $2,133,875,000 in the capitalization of 25 roads; 2) slashed their combined debt from $3,708,484,000 to $1,609,526,000; 3) reduced annual fixed charges...
...bigger roads going through the ICC wringer, Missouri Pacific had its capitalization halved to $347,411,000, its interest charges pared one-third. Chicago, Milwaukee, St. Paul & Pacific's yearly charges are now $10,685,000, were...