Threat of Extinction: Mr. Guy Gives Workers the Facts
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A CCORDING to Mr. Sydney S. Guy, rt chairman and managing director of Guy Motors, Ltd., the company will be put out of business if the Amalgamated Engineering Union succeeds in its claim for a rise in wages of it a week and if present prices be maintained. Such an increase would cost the company I:78.000 a year, whereas the available net profit in the year ended June 30 last was £56.110.
Mr. Guy last week warned employees of Guy Motors, Lid., and the Sunbeam Trolleybos Co., Ltd., that the -GOvernment demand that exports should be increased by 50 per cent, might result in a reduction of production and the transfer of workers from the Waiver hampton factory to somewhere else.
The workers had the unusual experience of hearing the directors' annual report before it reached the shareholders.
Mr. Guy declared that the company Pad resisted all temptations to grow too big, so that the personal touch might be kept and higher efficiency than would otherwise he obtained might be achieved Prices Raised Devaluation and the consequent increase in the prices of high-quality alloy steel and non-ferrous metals had caused the company to increase the price of its products. If wages were to be raised, and if the company were to retain sufficient money to keep its plant up to date, further rises in costs could be met only by higher selling prices. which the management would be reluctant to apply.
Saying that he hoped to see the day when the country would be restored from a fool's paradise to the position that it had held among the nations of the world, a position built up by industry in. an age when little was taxed, when the £ was worth 20s., when an ounce of practice was recognized as being worth a ton of theory, when to work hard was a credit and to slack a crime, Mr. Guy added: " OtheokiSe we shall slide from a welfare State to a farewell State."
In connection with the description of 'the mobile milk store built by 'Wincinton Garages, Ltd., the length of time in which the cooling plant came into operation after attaining 40 degrees F. should have been given as hr.