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ce Futaurs. speration under post-war conditions st home anc abroad ‘will be subject to the hazards incident to re-formati6n of treie and economic policies in foreign cour.tries and to the vicissitudes of *n i domestic economy. fhe Corporation does not have ; reserves sufficient to protect itself ezainst having to cerry over even a brief seriod of extraordinary
adversity. — 46 After carefuily studring the worlc-ride orzsani7
ve ationai seteup of the Corporation, anc anairzins n cords relating to operatinz costs, the Con—_.aaettee does pOt feel that it should rely upon its Judgment he extent of usurpinc the prerogatives. and cuties of Manasement ss resards identifyins particular items or departnuents, with recomsendations _ for specified reductions therein.
Tae Committee is of the opirion thet the Hana-ement of the Corporatio: is best qualified to particulerize where, when and how the econonfes recommengec to be effected can be most wisely apriied. °
Se The Committee is imously of thseopirion that effective as of lst Janpery 1946, the over-all operwr ating costs of the Corporation should be. reduced by : & sug not less then 10, of the totel amount expended during the calender year 1945.
it is beiieve@ by the of attee thet this can be accomplished withdut detriment the Corporation, to the producers whose product it distributes or to _the executive end other personnel employed by the , Corporation. : :
Ee The Comuittee, therefore, unsnimously recommends _
thatthe Soerd of Directors promptly adopt resolu
=, tions to the following effect:
. e Z ees {a) Thet each Department or Division of the oe Corporation be requested te submit on or > 2 before lst December 1945 a budcet in such ;
detatl as Management may prescribe, to cover anticipated needs for the calendar year of
345, and thet Meneagenent re-edfust these budgsts respectively in such manner eas will result in the stipulated and necessary reduction of not less than 105 in the over-«ell estimated operatins costs, in comparison with arpa: figure for the calendar year of 1945.