Word: annually
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Dates: during 1960-1969
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...rise was that defense spending jumped by $3 billion, or about 20% more than had been anticipated. Federal economists also had hoped that the $6 billion social security tax boost, which went into effect on Jan. 1, would cut consumer spending. Instead, such spending surged by an annual rate of $11.6 billion, up from $8.5 billion in the fourth quarter of last year. The greatest increases were in clothes and food, partly because of higher prices, but heavy buying of cars and color TV sets also contributed...
...other hand, new inflationary pressures are in the offing. On July 1, the Government will begin pumping out medicare payments at an annual rate of $2 billion; that will increase consumer income and capital investment in everything from nursing homes to hospital-supply plants, also spur consumer spending because people will have less reason to save for their...
...merger-minded Litton Industries, each of the 50 divisions draws up an annual "opportunity review," which looks five years ahead at technologies, situations and companies that the firm ought to be getting into. The managers of the fastest-growing firm in U.S. business history judge potential merger mates by three measures, in order of importance: 1) Does the product line fit with ours? 2) Is the management right? 3) Is the price right? One company that seemed made to measure was well-managed and profitable Diebold, Inc., the nation's largest manufacturer of banking equipment, with 1965 sales...
Litton, whose sales are now at an annual rate of $1.1 billion, continues to expand in many other fields. Last week it bought the Institute of Computer Management, a school for computer programmers-of which Litton needs a considerable number. It is also examining 40 to 50 vastly varied firms, including Wilson Marine Transit and other Great Lakes shipping lines. Says Thornton: "We never sit still-before or after a merger...
Just hearing it described last winter in Gstaad, Switzerland, made it sound like a perfect spring vacation. As Robin Duke, wife of U.S. Ambassador to Spain Angier Biddle Duke, pictured the annual fair in Seville, it was the essence of Spain, a six-day post-Lenten fiesta with superb bull fighting, Andalusian flamenco dancing all night long in the fair's tent village, colorful parades and a marvelous ball. What's more, the Duchess of Alba would be all too glad to have Jacqueline Kennedy as her guest...