Word: annually
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Dates: during 1970-1979
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Inside this week's issue of TIME is an interesting document about a remarkable enterprise: the annual report of Gulf & Western Industries, Inc. That broadly diversified corporation is celebrating its 20th anniversary and is marking the occasion in distinctive fashion. The 64-page pull-out section is the largest advertisement ever placed in any publication. Companies often seek to explain their business to the public through ads, but never before has a firm made such a comprehensive statement to so many people at one time...
...Annual reports do not normally reach a broad public. In past years, no more than 300,000 people received the G&W report. But the company believes that a wider audience can find the report instructive. Hence this advertisement, which will be seen by 22 million TIME readers in the U.S. and Europe...
Gulf & Western issued its first annual report in 1959, one year after changing its name from Michigan Plating & Stamping Co. It was best known for producing rear bumpers for Studebakers. The report listed sales of $15.4 million, profits of $316,000 and a work force of about 600. The firm that year had a new chairman, a young Austrian immigrant named Charles G. Bluhdorn, who launched the company on an aggressive expansionist course. Today, under Bluhdorn's direction, G&W ranks 59th on the FORTUNE 500 list, with 1978 sales of $4.3 billion, earnings of $181 million, and more...
...Brazil, delegates representing 50,000 church-organized grass-roots communities declared at their annual meeting last year: "Land in the hands of those who don't need it, workers earning a pittance, hunger, infant mortality and illiteracy. This great sin is a social sin, and it is called the capitalist system...
...economists long hoped that the slowdown was a cyclical fluke, caused mainly by the recessions of 1970 and 1973-75 (recessions always hurt productivity because companies run high-powered machinery at a slow pace and keep on the payroll workers who do not have much to do). But the annual report of the Council of Economic Advisers, submitted to Jimmy Carter last week and sent by the President to Congress with a covering letter, pretty well blew away that theory. Productivity, the CEA pointed out in the report, has not recovered during the past two years of expansion. In fact...