Sale
Carefully worded "merger" announcements befogged and nearly obscured the real news: Cleveland's famed William S. Jack and Ralph M. Heintz had sold out their wildly unorthodox war baby.
On a $100,000 investment, Jack & Heintz, Inc., piled up wartime profits of $6 million (after taxes) by making high-quality plane parts for the Army & Navy. It also piled up heaps of news clips by jubilantly giving "associates" (i.e., employes) huge bonuses, free lunches, soft music, Turkish baths, Florida vacations. But the end of the war and the dry-up of the U.S. Government's golden flood was almost the end of Jahco.
When...
To continue reading:
or
Log-In
