UMBEI.

5T. _ OAKLAND 7, Eost of Jock London TEmpfebor 2-55a4 owner andfor investors of business the highest possible fair profit-and to achieve this aim, he noted, it is essential to know variable operating bosts.

Following his excellent discussion of compensatory pricing mechanics and the importance of turnover ratios, Dealer Wilson .emphasized that to achieve the aims of a sound pricing policy, it is the price which the dealer ultimately receives for his merchandise which counts-including dis66sn1s-2nd for this reason it is of utmost imoortance that manag'ement be aware of all profit leaks.

Outstanding presentations or unlimited planning do not of themselves make for a successful program unless there is both interest and a strong desire to learn by those who participate. Certainly each member of the Estimating Workshop possessed and exercised these essential characteristics which in large measure contributed to a very successful program. The industry can truly be proud of such fine men.