Newspapers / Amco News (High Point, … / June 1, 1963, edition 1 / Page 8
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IN MEMORIAM Rosie E. Ring, knitter, died of accidental drovm- ing June 1. She had operated knit ting machine s in Plants #1, #2 and #7 since 1948. Mrs. Ring is survived by her husband, Joe Henry Ring; a son, Robert Ring; (both of High Point) and three sisters. Mrs. Sallie King, former em ployee who was re tired in 1957, died July 6. She was living with her sister in Ellerbe, North Carolina, at the time of her death. She was a hosiery looper for more than 50 years and she looped in Adams-Millis plants for 25 years. ECONOMICS Q. What is meant by a profit squeeze ? A. A profit squeeze occurs when high operating costs either eliminate or severely curtail a company's profit margin and it cannot raise the price of its product without pricing itself out of the market. Q. What is the heaviest of the oper ating costs ? A. Wages paid to employees repre sent, by far, the heaviest of the operating expenses— accounting for about 80 per cent of the cost of industrial extablishment oper ation. Q, Are profits important to economic well-being ? A. Profits and the hope of profits are among the vital forces of our free enterprise system. When profits are high, as the record shows, we have "good times" and there are plenty of jobs. When profits are low we have recessions and un employment. Q. Should an employee be concerned about the profitability of the com pany for which he works ? A. Obviously, since his very job is at stake. The people who have risked their savings to finance the com pany cannot be expected to con tinue to pour money into it unless there is a reasonable expectation of profit. Q. Do profits go only to a few? A. On the contrary they are widely distributed. More than 17, 000, - 000 people are shareholders in America's corporations and the dividends they receive are paid out of the profits these cor porations earn. Q. How much do industrial companies make ? A. Manufacturing corporations had an average profit of but 3. 2 per cent on the sales dollar in 1961. - 8 -
Amco News (High Point, N.C.)
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June 1, 1963, edition 1
8
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