Canada: Harvesting the World

Five years ago Toronto's Massey-Ferguson Ltd. was on the brink of bankruptcy. Dragged down by unwieldy inventories and a slumbering dealer network, the 115-year-old implement manufacturer in 1957 lost $4,700,000 on $400 million worth of sales in five continents. This week Massey-Ferguson will happily report on its performance for the first half of fiscal 1962. With business up 15%, the company is expected to show sales of about $263 million and profits well above last year's first half net of $6,000,000. The secret of this rejuvenation: a change in corporate philosophy, which has converted Massey-Ferguson into one of the world's...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!