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Analysts are most concerned about a stock's price-earnings ratio-that is, its price relative to earnings per share expected in the current year. Professionals tend to assign rather low P-E ratios to companies with profits that are rising only as fast as the U.S. economy's gross national product. Thus, the Dow-Jones industrials now have P-E ratios averaging less than 17 to 1, down from 21 to 1 just before the 1962 market break. Analysts give much more generous P-Es-50 to 1, or more-to companies with profits that rise faster...
Call for the Cop. Most programs to ease the glut try to treat aviation within the existing rule of individual right to the air. A few experts take a more radical tack. They would create a federal aviation traffic cop to assign not only flight routes but also schedules and air speeds, thus spreading the jarm out of rush hours. Instead of informing the FAA of his flight plan and being accommodated no matter what the crush, every civilian pilot would have to notify a controller of his intentions and ask: "When...
...constitution, the ex-colonels' attitudes appear more activist. They seem not only eager to suppress leftists but also to break the power of the Greek Establishment. Under the new constitution, the monarch will no longer have power to appoint and dismiss Premiers or to promote and assign generals. He will, in fact, have none of the power that made it possible for the Greek throne to create its own mini-aristocracy of loyal retainers...
...races. The second is that even if science possessed such tools, the racial divisions could not conceivably be used to grade human worth. So meager is man's understanding of the complicated biochemistry of evolution and of the nonhereditary influences of cultural environment that no one can confidently assign that portion of intelligence with which man was born and that part he acquired. If heredity bestows his capacity to learn, culture decides what he will learn-in some cases, how much he will be permitted to learn. The handicaps under which the U.S. Negro has existed since he arrived...
...public relations purpose, it is of considerable value to the national ROTC program to have a unit within the academic system at Harvard. But since the Harvard program is more of a show than a producer of officers, the Army does not assign Harvard its best officers. The end result is a sad cycle: very few Harvard undergraduates join ROTC, the Army therefore does not send first-rate commanding officers, and the program becomes more unpopular than before...