Word: auto
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Dates: during 1950-1959
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...space fever renews itself before daylight each morning, when long necklaces of auto headlights form along the highways that lead to Cape Canaveral's heavily guarded gates. Security guards check for pink windshield stickers, examine badges, wave the privileged on to their work. Construction workers peel off toward half-finished launching facilities. Others spike off to hangars, laboratories, snack wagons and a hundred separate sites. At the lox plant, they run the machinery that daily chews up a chunk of damp Florida air and transforms it into 75 tons of liquid oxygen...
...also ruled politics out of bounds for such interlopers as Defense Secretary Neil McElroy and his predecessor, Godfrey's former good friend Charlie Wilson: "As far as I'm concerned, professional politicians are the men who should be the leaders in Washington. This business of bringing in auto and soap manufacturers is darned foolish. They simply cannot know their way around the intricacies of Government . . . Since I've learned the intricacies of the Government, I spend as much time as possible briefing Senators and Congressmen about air power as I know...
...newspapers. But in many of the cities where unemployment was heaviest, editors ranged uneasily from boosterism to ostrichism. In Los Angeles, where layoffs have idled nearly 6% of the work force, Hearst's Herald & Express whooped: ROSY L.A. ECONOMY SEEN. In Detroit, some of the big auto plant shutdowns have landed in the back pages. In New England, most publishers admit privately that they are worried about business conditions, but, says one news executive, "you'll never read a line of what they're saying in their own papers...
CORPORATE PROFITS rose 1% in 1957 over 1956, says Manhattan's First National City Bank in survey of 2,474 key companies that account for about one-third of total business earnings. Biggest gainers: tobacco, shoe, drug, steel, and auto companies. Losers: textile, clothing, tire, paper, oil, building-material firms...
...AUTO UNION is tempering demands as dealers' car inventories continue to rise. U.A.W. wants to boost its average $2.46 hourly wage rate by 10?; pace-setting General Motors has offered 6?. Union also will ask for bigger layoff, pension and health benefits, but will probably scrap its demand for profit sharing if G.M. agrees to more pay for shorter week...