Word: thornbrough
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Though the ads were pitched at the farmer's ego. Massey-Ferguson did not have far to look for the real prototype of the man it described: Massey President Albert A. Thornbrough, 46. When Kansas-born Al Thornbrough became the firm's executive vice president three years ago, the company was on the brink of bankruptcy. This week, by virtue of his aggressive policies, the company proved a remarkable comeback from 1957's losses of $4,700,000; it announced 1958 earnings that topped $13 million, or $1.25 a share. While sales in Europe, Africa, Australia, South...
Chairman James S. Duncan resigned because of "ill health," and Colonel W. Eric Phillips, backed by 30% of the voting stock, became chairman and chief executive officer. Phillips, who had brought Thornbrough to Toronto from the Ferguson tractor division a year before, promoted him to president with authority to overhaul the company...
Cash in the Till. Thornbrough temporarily shut down several U.S. plants, slashed prices of the company's products below cost to clear out inventories, get cash in the till quickly. He streamlined the company by merging the Ferguson and Massey-Harris distribution systems, which often competed with each other, into the new Massey-Ferguson Ltd. He put in tight inventory controls, raised salaries and bonuses of salesmen and branch managers to give them more incentive, brought in a crack young management team to push sales...
Neither graduate nor undergraduate Instruction has as yet been radically affected by the war, but drastic reductions in graduate enrollment are predicted by the department. Among undergraduate courses, Economics of Agriculture, 71, has been dropped from the roster because Visiting Instructor Albert A. Thornbrough was called to Washington last September. Instructor Lloyd A. Metzier is replacing Professor Mason in Industrial Organization and Control, 62b, while Economic Aspects of War and Defense, 18b, offered in the first half year, has been extended to this semester as 18c and made available to men whether or not they have completed the previous half...