Word: auto
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Dates: during 1950-1959
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...Viking. Cap Rieber came up in the rough & tumble school of oil where a boss often had to win his arguments with his fists. He quit his native Norway at 15 to go to sea in sailing vessels, got into tankers just as Spindletop and the Auto Age gave the U.S. oil industry its biggest boost. He became a tanker captain for _ the fledgling Texas Co., later built up its tanker fleet and ran Texaco's overseas sales. He became chairman of the board in 1935 arid made deals all over the world to increase Texaco...
...Auto-insurance rates, which have risen sharply since World War II, appear to be on the way down. Rates have soared because 1) courts have been handing out sky-high judgments in accident cases (TIME, Aug. 27, 1951 et seg.) and, 2) the accident rate itself, notably among young drivers, has gone up alarmingly (28% of all drivers involved in fatal auto accidents in 1951 were under 25). But as the rates went up, independent auto-insurance firms began cutting their rates and snatching business from the large companies. Last week a number of big companies got ready to meet...
Frozen Mercury. Fred Crawford, civil engineer (Harvard, '14), joined Thompson as a millwright's helper in 1916. Under one of its founders, an ex-welder named Charles E. Thompson, the 15-year old company had already built a tidy business making auto valves. In World War I, its business almost doubled, and Thompson branched into aircraft, making valves for France's Spad fighters. By 1929, when the Thompson Trophy was created for Cleveland's National Air Races, Crawford had moved up to vice president and general manager. At Thompson's death* in 1933, Crawford took...
...explorers from Peabody made their way over the tundra in the most "modern" of vehicles--the Weasel, an amphibious auto with tracks, ribs, and pontoons to keep it above water and to prevent it from sinking into the tundra. The group worked in continual daylight from July 1 to September 1, when the sun is constantly above the horizon...
Reuther's annual-wage campaign cannot amount to much before 1955, when his five-year contracts with the auto industry expire. Actually, the industry has already taken big steps toward steady employment (e.g., by scheduling retooling during the vacation season, to avoid mass layoffs). But the automakers have opposed formal guarantees because of the fear that Reuther would want them pegged too inflexibly to current wage levels. Unless the wage is tied to prices, the automakers fear they will be unable to cut prices during a recession and still be able to meet payrolls...