Historical Newspapers of South Carolina

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2 "CLotij fry- 3 , Published montl *? h for employees I' I and Lydia Col i* I Clinton, S. C., = direction of < w . , ? .. Crocker, Indusi Member of South n;-, Atlantic Council of tions Din Industrial Kdltorm CalTin Cooper Truman Owens rne publishers oi The Ulc items of interest from its to your departmental : personnel LETTER FROM Tl IT IS a source of gratification t a vacation with pay and I am glc tions for a full week so that fan together. MANY OF you have planned t mountains or to other vacation take this opportunity to visit rela distant places. And of course thei take it easy, resting and relaxing FOR ANY vacation to be val and relaxation" should be connei is to get one's mind completely f work-a-day job, completely free connected with everyday living doing something different from thing, just so it is different and w OUR Vacation Week is olanni ence Day?July 4. It was on that < declared their independence from selves to a long and bloody war UNDER THE freedoms which are guaranteed to us and which Constitution?freedom of worshi press, to name but a few?no p< individual status nor a greater p precious things w,.ich we somet heritage imposes an obligation on sacrifices which made possible 1 as we prove worthy of these sa strong nation which gives leade dom throughout the world. So It significance of Independence Day that we enjoy today will be han on tnrougn me generations to c< I HOPE thai you and your fax and a meaningful vacation and celebration. Federal Funds? Nuts! It: This money is taxpayer's r mine, and for a long time I ha1 when the loot is referred to as The implication is when the project, any part contributed Y "found" money. As long as "Fe< has to pay. It seems to me it is about 1 known facts of financial life, tl mere are no su n things as 1c government owns money. The g< unless you include some of the from its intrusion into business Because of this, I have sugg phrase "federal funds" be chan; stead of accepting a statement tl ing $500,000,000 for developmen I think the American Society o agree to print such an item a the United States today sent, et Instead of telling how the for some new buildings in Catcl 1 ^4 1 4? il- . iwciiib ai, iuw raies, me liem 01 citizens of 50 states today chip people in Catchall could have a In the first place, I think t the scratch, not the Rents whi credit. In the second place, dr after day, that there are no 4 paying citizens' contributions zipper up the national purse s recognition abroad for the har possible for our agents to play Federal Funds? Nuts! That ?Howard Pr< of Clinton /Vi tton Mills, L^g^vu2l5/ under the trial Rela- ? . , , ... Member of American rtiur. Assoc tat Ion of Industrial Kdltora Editor Photographer ithmakcr will welcome readers. Turn them in reporters or to the office. HE PRESIDENT hat the Company can provide id that we can stop all opera-lilies may enjoy the holidays rips to the seacoasts or to the spots. Others probably will tives and friends in nearby or re will be many who will just at home. uable, an abundance of "rest cted with it. The main thing ree from any thoughts of the of all worries and problems This can be done best by the customary?almost anyrholesome. ?d to coincide with Independlay in 1776 that our forefathers England and committed themto achieve their freedom, they won for us and which are guaranteed to us by our ip, of free speech, of a free ?ople have achieved a greater rosperity. These freedoms are .lines accept, uhj iignuy. uur each of us to be worthy of the he freedoms we enjoy. Only crifices can we continue as a Tship to the desires for free?t us always be mindful of the and resolve that the freedoms ded down to our children and >me. nilies will have a restful, safe I a happy Independence Day ^jdcrrf/77. s Our Money noney, it is your money and ve scorched with a slow burn government money, re is a joint financing of some >y the federal government is deral funds" are used, nobody Lime somebody put to use the IP mnst nrnminpnt V~ioi n a that ?deral funds in the sense the 3vernment doesn't earn a dime unintentional profits it makes ested more than once that the ged to taxpayers' money." Iniat the United States is spendt of a river in South America, f Newspaper Editors ought to s follows: "The taxpayers of c. . . federal government is paying lall, Kansas, through generous Light to read, "The taxpaving ped in $43,000,000 so that the new downtown development." he people who come up with j spend it, should get proper umming home the point, day 'federal" funds but only taxmight cause more people to itrings. At least, it might get ..] 11._ ...i. _ i - - uwuimiig iuiks wno mane 11 Santa Claus. s our dou^h! ?ston, Cleveland Plain Dealer THE CLOTHMAKER WHO CARES COMPANY EVER Who cares if the Company doesn't make a profit just as long as I get paid. Another way it has been said is "My weekly paycheck is my worry. Profits ? that's management's headache." You have probably heard this said by many people. Some say it jokingly, others say it seriously. There are several variations of the same comment, but the basic idea seems to be that some employees of a company haven't the slightest interest in whether their company is earning money, losing money, or standing still. This may have been true twenty years ago but it's not so today. Employees of a company should and do care if their company is earning money. They know that a company that is losing money is headed for failure and they know that their jobs are at stake. Profit is a must in practically any kind of business or industrial operation. There can be no security for any employee in any business that doesn't make money. There can be no growth for ,, that business. There can be no opportunity for the individ- n ual to achieve his personal am- ^ bitions unless his company makes money. If you'll take a good look at the industries which range u across our country, you will see ^ over and over again that the ? profitable companies are the ones where employment is growing, where employees are well paid and where jobs are 1 more secure. ^ When earnings are slim, a ^ company cannot acquire new and more efficient methods of \? production. Whenever a company cannot purchase more ef- t ficient equipment, the competitive position of a company ? is injured and the job opportunities in that company are lessened. ^ Less profit means fewer tools , or poorer tools of production. . Nothing should worry an employee more than working for a company that does not make a fair profit. * Despite all that profit does io make America the strongest, most productive country in the world, it is one of the most vvidely misunderstood aspects of our economic system. A well known American figore once said: "The worst crime against working people is a company which fails to make a profit". Possibly no other single word suffers more misunderstanding and abuse thar. the word profit. The word, "profit", comes from a Latin word meaning "advancement" or "progress". The desire to earn a profit is basic to our free enterorisp I I system. This desire is what j keeps the wheels of progress 1 turning and it plays a major < role in the high standard of i living which we have in Amer- ; ica. - IF THE r MAKES A tYONE OF I ?j Non-Profil fr To read or hear some of the hings that are said about profit", the unsuspecting "light get the idea that profits re some sort of necessary evil, 'hey may be tolerated as long s they are not "too big" - alhough how much is "too big" > never made clear. Profits re represented as a lot of dolars piled up for the sole beneit of owners of business ? and s of no good to the country as whole except for the taxes hey provide. To those who point accusing ingers at profit ? who seem o be savine that there is some hing wrong about it ? and vho hold out the notion that omewhere, somehow the counry will find a formula foi lushing profit down with one land and pulling business up vith the other. This is not posible, because the only wa> >usiness (and those working or business) can prosper is foi heir company to earn adejuate profits. i ne American people arc iroud of their industry's proluctive power; they know whal t has done and can do. Or he other hand many people lave been misguided into false mpressions abe?ut the profits n industry. Tims instead o laving a clear picture of the elationship between our im nense productivity and the Dart profit plays in making Droductivity possible, much ev he public has only a vague elea e>f profits in American in iustry. Prc?fit is the amount whicl s left over after a business ha: Daiel all the expenses and bills raw materials and supplies vages, electricity, gas, trans Dortatie>n, taxes, etc. Pre>fi iimply means the difference aetween the memey yeiu pa; >ut anel the monev vern take n. If you pay out more thai you take in, you have no profit Vou now have a loss. JUNE, 1962 PROFIT? JS SHOULD! ? m ??t j| MIF Some people have the notion that profit is piles of cash stashed away some place getting dusty. But this just isn't so. If profit meant only idle dollars it wouldn't help progress. Any company that holds all its profits in cash isn't ^ likely to be a good company to ^ work for, for very long. There isn't much progress in the company having a lot of idle cash i around. ; Profits are not dollars stashed away, they are dollars ; at work. In a healthy growi ing company, profit money is being spent for progress ? I progress for the company ? progress for you. Profits are spent on all kinds of improvements. Profits are at work all > around us. They are in the > machines and equipment which enable a company to produce more with less effort. They r urn in rncno 1 1 t Ml V, 411 1 V.OV.Q1 Lit W I 1IL I 1 Ilt'IjJS cl company develop new and better products. Some people feel that it's ? just the Company that gains when profits are earned. Some L wonder, "Why should I work 4 1 hard so the Company can make ^ ? more profit? What do I get ? out of it?" Because of the coni fusion about profits in the f minds of many it is under? standable why people would wonder about this. ? It's true when a business is ? profitable the company does f gain, but the Company is not -j t Kn 1' ' i'- r n.w winy i^-iitrnfiary 01 a prolliable business. Wlien a Company earns a profit, everyone \ benefits ? both the company and the individual. Here's how ? Employees gain newer and t better tools and machinery to ? work with ? improved equipj ment to make jobs less strcn2 uous, less tiring, less tedious. ! Employees gain the feeling A of security in a profitable com- ^ (continued on page 6)