Competition is the final price determinant and competitive prices may result in profits which force you to accept a rate of return less than you hope… - Alfred P. Sloan

Competition is the final price determinant and competitive prices may result in profits which force you to accept a rate of return less than you hoped for, or for that matter to accept temporary losses.

The industry has not grown much during the past three or four years. It is practically stabilized at the present . What has taken place is a shift from one manufacturer to another.

Take my assets — but leave me my organization and in five years I'll have it all back.

You of course appreciate that this industry of ours the is today the greatest in the world. Three or four years ago it passed, in volume, steel and steel products, the next largest industry. This means, expressed otherwise, that upon its prosperity depends the prosperity of many millions of our citizens and the degree to which it has become stabilized in turn has a tremendous influence on the stabilization of industry as a whole, and therefore on the prosperity and happiness of still many more of our citizens. Directly and indirectly, this industry distributes hundreds of millions of dollars annually to those who are connected with it, in one way or another, as workers. It also distributes hundreds of millions of dollars in the aggregate to those who have invested in its securities. The purchasing power of this total aggregation, as you must appreciate, is tremendous.