Look At Profits The Way A Family Views Its Savings
WHAT'S LEFT OVER
A twister tender was hea
in business.
“I figure it’s something sorta
like sweet-potato pie with fluffy
topping, after your’ve had a big
meal. Nice to have, but you
could do without it.”
Unfortunately, he is typical
of a lot of people who think
that profit in business is money
that goes into a “company’s
pocket”—as if a company were
a certain person or a few in
dividuals who “use the extra
money as they please.”
Such nolions are dead wrong,
of course. Because whal bene
fits a business organization,
benefits the people who work
for and make up the company.
I sharing his views on profits
Then, what is the “extra
money” and where does it go?
ECONOMISTS generally ex
plain profits as a NECESSARY
COST OF DOING BUSINESS.
It’s really the life of it, because
if you “just break even” you
won’t survive for long.
Profit is simply defined as
that which is left over, after the
regular costs of a business ac
tivity have been deducted from
the revenue the business takes
in from sale of products or serv
ices.
Out of it’s regular income, a
company pays for its raw ma
terials, provides for its man
power through wsges and sal
aries and extra benefits for
employees, meets all other costs
of making and selling a product
or service; and provides a por
tion for replacement of worn-
out and outdated . equipment,
general improvement and ex
pansion of facilities. And re
member, it pays taxes to local,
state and federal government.
After all this expenditure,
what’s left is called profits or
earnings.
Profit generally represents
the cost of tools which make
produc'ion possible — buildings,
equipment and machinery and
supplies.
Profits are that part of the
price collected from the cus
tomer on behalf of the owners
(shareholders), just as wages
and benefits are the part of the
price collected from the cus
tomer on behalf of the employ
ees. Taxes are the part collect
ed for the government.
Look at profits the way a
family views its savings. After
meeting regular expenses such
as rent or mortgage payments,
food, utilities, maintenance, tax
es and other things, money left
over is profit or savings.
IN A WAY, a company is like
that. It uses money it puts aside
from profits to finance improve
ments or replace machines, just
as a family puts aside for edu
cation or a refrigerator—for ex
ample.
In a household or in business,
the money left over after regu
lar expenses must be managed
wisely. A household or a com
pany must live within its in
come. True, you can obtain
money on loan, and in that case,
you still must make a profit to
pay back what you borrow,
with interest.
More about profits. Money
left over in doing business is
usually divided two ways: One
Dortion to the shareholder in
dividends; the other re-invested
in the business for new tools,
research facilities, new plants,
More on Page 2 •
GASTONIA
NORTH CAROLINA
BENNETTSVILLE
SOUTH CAROLINA
BOWLING GREEN
KENTUCKY
Gaston United Appeal
33 SERVICES
OCTOBER
1971
safety^
GLASSES!
They Believe
In Safety
Glasses
Wearing protective equip
ment at work does prevent
injuries—in this case, saving
eyesight at Firestone’s Bowl
ing Green, Ky., plant. Two
men’s experience there re
cently:
Graig Wolf (left), engineer, was supervising work at the
mini-pull stand in the Fabric Treating unit, when a screw
struck his safety glasses. It had been catapulted from a ham
mer in use by a maintenance man working on a clutch unit.
And Earl Saxton, twister cleaner, was walking between
twister frames, on his way to the lunchroom, when a stray
ing traveler bounded against the side shield of his safety
glasses.
Now Wolf and Saxton wear their safety glasses with
an extra measure of dedication.
Generous
With Blood
Of Gaston County people
whose blood-donor records
reached “monumental”
levels during the past sum
mer, four of them are from
Firestone Textiles, Gastonia.
The list from the Gaston Coun
ty Unit of Greater Carolinas
Chapter of American National
Red Cross showed that of the
four Firestone “extra” generous”
Thomas W. Turner of the shop
led with six gallons contributed
over the past few years.
Then, four gallons is the
record for A. C. (Freddie) Kes-
sell, who works in fabric-treat-
ing. Ross Gregory Jr., of TC
twisting and Raymond Morgan
of quality control have a one-
gallon record each.
TO DATE, the Regional Blood
Center through the Gaston
County Red Cross received 286
pints on two visits to the Fire
stone plant and community dur
ing 1971. Following an establish
ed pattern, the next regular
blood stop at Firestone will be
Effort among Firestone people to help the Gaston United
Appeal reach its record goal of $566,819 began Oct. 1. The
general campaign runs through Nov. 9, but the Firestone
in-plant solicitation was expected to be finished by mid-
October, according to Co-chairmen Ray Thomas and Terry
Kirby of the plant supervisory staff.
They are being assisted by is awarding prizes through a
ticket-drawing to those who
make “Fair Share” pledges.
Contributions are usually de
livered through payroll deduc
tion.
Through the years, money
gifts from Firestone people here
have been presented as one of
the largest amounts in United
Appeal campaigns. Last year’s
figure was $35,258.20.
many volunteers in all divisions
of the plant, warehouses, service
departments, and offices. Some
1,000 volunteer workers across
the county are helping in the
project of raising funds for 1972
operation or major support of
the 33 participating community
services.
In keeping with custom
through the years, the company
A ‘First’ For Steel-Belted Kadials
Firestone’s U.S.-made, steel-
belted radial tires are first to
be approved by an auto manu
facturer for new passenger cars.
The company’s new Steel Belt
Radial will be available as an
option on 1972 Comets, Maverics
and Pintos produced by Ford
Motor Company. Firestone is a
major supplier of tires to Ford.
in February; with the second
visit of ’72 being in August.
In between these scheduled
collections at the plant, it is
quite common for Firestone peo
ple to donate blood in home
towns other than Gastonia, and
at other locations.
The Steel Belt Radial also will
be offered on replacement
market through Firestone deal
ers and stores in sizes DR78-14
and 175R-13, sizes which will
fit other U.S. and imported cars.
Thomas A. Robertson, Fire
stone’s director of tire develop
ment, said the new tire has .twin
belts of steel cord encircling the
tire body under the tread; that
steel belt provides great impact
and puncture resistance.
The new tire is available in
black wall and with black and
single white stripe. It features
a heavy five-rib tread with
radial rounded shoulders which
improve on cornering perform
ance.
Safety Award
For SC Plant
Firestone Textiles at Ben-
nettsville has been cited by
the South Carolina Depart
ment of Labor for outstand
ing safety performance.
The award commemorates a
record of operation and produc
tion free of a disabling injury
since February of 19B6. This, the
SC Labor Certificate, is the fifth
safely award the Bennettsville
plant has received.
Four honors earlier in 1971
were from Liberty Mutual In
surance Company, The Fire
stone Tire & Rubber Company,
National Safety Council, and
South Carolina Occupational
Safety Council.
Edger J. McGowan, SC Com
missioner of Labor, presented a
Certificate of Achievement to
Faye Shankle, a 25-year em
ployee in charge of the first-aid
department. She received the
award on behalf of the plant
and its people.
At the presentation, McGowan
emphasized the contribution
each employee has made toward
compiling an impressive record
of safe operation.
The Firestone-sponsored Gas
tonia women’s softbaU team was
runner-up in the Kings Moun
tain League for the 1971 season.
In the North Carolina State
tournament. Firestone won one
game and lost two.
Appointments
At Gastonia
In appointments effective
last month, Richard Harrison
was advanced to a general
foreman at Gastonia, while
T. J. Ross and Benjamin F.
Massey moved to supervis
ory assignments.
Harrison, a native of Thomas-
ville, N. C., joined Firestone at
Gastonia in June of 1969, fol
lowing his graduation from
North Carolina State University.
He had been shift foreman in
cord (TC) weaving. His assign
ment as general foreman is in
the same department.
Tt
Harrison succeeded Fred Har
dee who joined a textile firm in
Georgia.
T. J. Ross was promoted to
warehouse supervisor, second
shift, succeeding John W. Hen
dricks who retired. Ross, with
Firestone here 21 years, had
been a fork-truck operator.
Benjamin F. Massey was ad
vanced to shift foreman in TC
From
lefl;
HARRISON
MASSEY
ROSS
weaving. He joined Firestone 20
years ago, first working in card
ing and later in cord weaving.
For the past year he had been
assigned to the process-develop-
ment department.
Massy recently earned a di
ploma for an advanced course in
weaving & designing at North
Carolina Vocational Textile
School.