By Arthur E Thiessen
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Additional info for A history of the General Radio Company
Locke, in the bond investment business in Boston, which was dissolved early in 1918 following his father's accidental death. During his senior year at Harvard his roommate was a junior, Homer E. Rawson. The latter was GR's vice president in 1918 and that year persuaded Locke to join the Company. 25 Errol H. Locke Locke's first job was in sales, where he wrote many of the Company's early advertisements and catalog pages. However, he soon became interested in the manufacturing side of the business and, for most of his thirty-seven years with the Company, devoted much of his time to its management.
27 Richmond, like so many at GR, had been a radio amateur, receiving his first amateur license in 1912 with the call letters 1IA. One month later he became a Radio Operator, Commercial First Grade. He still holds an amateur license, now W1CL. He had know Eastham well as a young customer of the Clapp-Eastham Company and at meetings of the pioneer New England Wireless Society, later merged with The Institute of Radio Engineers. In 1962 he received an award in honor of fifty years as a licensed amateur radio operator, which made him one of our country's first.
To solve this, Eastham developed an idea that he had been thinking of for some time, and that came to be known as the "K" pay plan. The basic idea is that the salaries of all who are paid under the plan shall be readily adjustable up or down with the state of business. To make it sensitive to conditions, the adjustment is made each month. "K" is a multiplier by which the regular base salary of each participant is multiplied to determine his actual pay month by month. To set the value of "K," the normal predicted dollar output of the plant working at full time, but with no overtime, is calculated at the beginning of each year (or more frequently if an unusual situation should develop), and the amount is approximately the same as the expected sales rate.