Word: wringer
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Henry J. Kaiser's Oregon Shipbuilding Corp. went through the renegotiation wringer last week. The wringer squeezed out $6,322,954 from its $23,958,504 profit on its first 181 Liberty ships. Remaining profit per ship: $25,000. The Maritime Commission declared this the standard by which all yards in the original Liberty-ship program will be renegotiated. The Commission estimates the cost of Liberties at some $157 per deadweight tons v. $255 for the Hog Islanders of World War I. Builders' profits, if kept to the Kaiser level...
...Swiss sources learned that Nazi authorities have ordered all industry and business through the wringer again to squeeze out another 900,000 fighting men. Reason: last year's "total mobilization," aimed to procure 2,000,000 more soldiers, produced barely...
Through the Wringer. Although the Court split sharply on how it had arrived at where it was, the meaning of its new position was plain. The decision gave FPC a free hand to set utility rates on any basis it wishes. The only guidepost is whether the rates are "just and reasonable." But the burden of proof is on the utilities...
Months ago, FPC started to put the $20,000,000,000 utility industry through the wringer, has already squeezed out some $380,000,000 in valuations. But with last week's decision there was little doubt that the wringer is beginning to roll on rates...
...railroad reorganization wringer squeezed tighter last week. Stockholders in two once-bankrupt carriers saw their chances of participating in juicy war profits gurgle down the drain. The Supreme Court upheld a lower court decision barring any revision of ICC's plan to streamline the financial structure of the Chicago & North Western Railway. A Federal court in New Haven approved, with slight modifications, ICC's amputation of the top-heavy debt of the New York, New Haven & Hartford Railroad...