Word: acte
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Dates: during 1950-1959
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...ordeal. Other North Carolina stations matched WFLB's stunt, upped the prize value progressively to $3,000. Sue Huron, a Pittsburgh secretary of 22, kept Fayetteville station WFAI busy crackling out regular reports on her monologue of 92 hrs. 1 min. 4 sec. Then Kansas got into the act, when 29-year-old Mrs. Carmen Araiza talked of enchiladas and children for 93 hrs. 36 min. 9 sec. over Topeka's WREN. Ready to challenge the new champion was Mrs. Edith Fisher, 29, a clerk in a mailorder house in Rocky Mount, N.C., who had been briefly champion...
RENEGOTIATION is a threat to national security." With this flat accusation the defense contractors' National Security Industrial Association took dead aim at an old enemy entering the congressional battlefields once more: the highly controversial Renegotiation Act of 1951, which is before the House Ways and Means Committee for renewal this year. In its role as examiner-and judge-of thousands of defense contractors annually, the Government's Renegotiation Board since 1952 has ruled that the suppliers have made some $700 million in "excessive profits." In doing so, say businessmen, it has seriously hampered effective procurement and demoralized large...
...main argument for keeping the act on the books is that defense equipment has become so complex, and changes so fast, that past production and cost experience are not enough to forecast and avoid exorbitant profits. The Government, say renegotiation advocates, needs a watchdog agency to take a long legal second look at every major defense contract. While contractors go along with this, they argue that renegotiation decisions are so capricious that what are considered normal profits for one contractor are called excessive for another...
...sales. Nevertheless, during fiscal 1957, the Board ruled they had made $33.6 million in excessive profits. Boeing has been ordered to give back $27.5 million (less tax credit), and lesser amounts are demanded from North American, Douglas, Lockheed and most of the others. The planemakers maintain that the Renegotiation Act is unconstitutional because it levies what amounts to a tax without a rate-and thus deprives the taxpayer of due process. The law provides no formula to measure excess profits. Instead, the board considers such items as the risk involved, the company's efficiency and any other "factors considered...
...thoughtful businessmen want to do away with renegotiation entirely. Rather, they would like to see the act amended to exempt incentive contracts and to make it mandatory to show contractors all data and information used as a basis for determining excessive profits. With such amendments, business might be able to live with the Renegotiation Act...