Trouble in Paradise

In wartime, when the U.S. was footing the bill, brotherly love and production soared and sang at Cleveland's bountiful, brash Jack & Heintz, Inc., makers of plane equipment. Associates (employes) luxuriated in hot showers and Turkish baths, cheek by jowl with pink-jowled President William S. Jack, got free insurance and Florida vacations. Out of their sky-high wages ($5,000 a year and up) they gratefully sank $15,000,000 in preferred stock in Jahco to finance a still rosier postwar future. But peace and cutbacks brought trouble to this production paradise. By last week Jahco's eight plants, two still owned by the...

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