Word: aircraft
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Dates: during 1950-1959
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Formosan troops worked desperately to rescue tens of thousands trapped by the floods, and an American aircraft carrier rushed 20 helicopters over from Hong Kong to help save lives and distribute rice. As the waters receded, officials counted about 650 dead, 750 seriously injured, 750 people missing and a quarter million homeless-victims of Formosa's worst floods of the century...
With his firm jaw and conservative business suits, Robert Oliver, 36, is the picture of a successful executive. And so he is: boss of management development at California's missile-making Hughes-Aircraft Co. But when he talks, his voice is that of someone else: an oldtime Wagnerian "black bass," echoing with rare depth and timbre. Executive Oliver's voice is so unusual, in fact, that when Composer Igor Stravinsky first heard him, he added a specially low voice role to his last great work and asked Oliver to sing...
...that the market was due for a technical correction after a headlong rise from last spring, saw the break as an opportunity for earnings and dividends to catch up with soaring prices. The drop was accelerated by news of the exotic fuel cutback (see Aviation) and poor earnings in aircraft companies...
...selects his risks carefully. He likes to back young men whose chief assets are ideas ("That is business democracy"), favors brainy companies that may contribute to national defense. A World War II Navy lieutenant commander, he says: "I never demobilized." That was one reason why he bet heavily on aircraft and missile stocks long before they boomed...
Nosing down are U.S. shipments of aircraft (foreign lines are waiting for the jets), cotton (buyers are holding back for a price cut expected later this year), coal (Europe has a big surplus). Dropping also are exports of machinery and steel, cars and oil, for the same reasons that U.S. imports of them are steaming up: the foreign products are plentiful, low in price and of good quality. Comparing the first halves of 1958 and 1959, U.S. imports of electrical apparatus, electronics parts and transistor radios went up from $72 million to $96 million, imports of industrial machinery from...