Word: backlog
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Dates: during 1950-1959
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...will take a generation or more to clear the state hospitals of the backlog of patients permanently crippled by old-time procedures that, far from making them better, helped to make them worse. But seclusion rooms are being converted into kitchenettes and beauty parlors; camisoles and straps are disappearing. Shock treatment is seldom used, and only for selected patients. Though admission rates are rising, release rates are rising faster, so that in many states there is a net decrease in the numbers of mentally ill confined to hospitals...
Despite the backlog of work, the SEC is still expanding its operations. To educate investors to the dangers of phony promotions, the commission has been sending out posters describing the work of boiler-room operators. Now it is preparing 15-and 30-second shorts for radio and TV, warning about stock-market swindlers. Says SEC's Windels: "Fraudulent promoters can do their work so fast that the SEC often cannot stop initial damage. But if the public is warned, then these crooks have far less room to work...
Pushing to clean up stocks before the compact cars come out, dealers cleared out 485,000 U.S.-made cars in August, 50% more than last year and the best August since the banner car sales year 1955. Thanks to the surge of buying, the backlog of unsold cars dropped to 725,000 on September 1, only a 39-day supply at current sales rates...
...Government contracts that looked none too inviting to other companies, because the profit was less than on commercial business. Now Martin has contracts for six different missiles (including the surface-to-surface Mace and the Titan ICBM). more than any other company, making up a plump missile-and-electronics backlog of $600 million. Earnings, on the rise, are expected to hit $4.50 a share this year. Says Bunker: "We were either lucky or smart, and we don't care which. We got in first, and now we've really got our arms around this thing...
...even though it held big contracts for its F-86 and F-100 fighters. It figured that the fighter might well be shelved by missiles, started right after World War II to get ready. Now, with its Rocketdyne Division making many of the big rocket engines and with a backlog of $758 million for projects running from nuclear reactors to the X-15 (the plane that is expected to be the first to fly into space), North American's profits are on the upturn. They will rise from $26.8 million last year to $28 million in the fiscal year...