Word: backlog
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...will buy an equal number of shares from the Ford Foundation and retire them.) And there is plenty more purchasing power where that came from. Since it went public five years ago, Ford has issued less than one-seventh of its authorized shares. Hence, besides its $930 million cash backlog, Ford has more than 100 million potential shares it can draw on to pick up other companies...
...film from the central library; highly trained teachers languish on cafeteria patrol; requests to fix sagging roofs vanish in a Byzantine fog. For years, the bureaucracy left unspent most of the millions allocated for repairs to the schools (267 of them are 50 years old or more); the backlog of needed repairs is about $75 million. Bureaucracy stifles new teaching methods, which flourish in suburban public schools. Each year, the system drives more parents to the suburbs, feeding the decay of city schools...
...yank, Jim Ling used his recently acquired majority interest in Dallas' Chance Vought Corp. to merge the 44-year-old aircraft company with Ling-Temco over the protests of Chance Vought officers and other stockholders. The merger creates a Texas-based aircraft, missile and electronics complex with a backlog of $300 million in orders. Ling, who once planned to become a Catholic priest, will rule over the new Ling-Temco Vought, Inc. from the backstage job of chairman of the executive committee...
Last year President Eisenhower, worried about the growing backlog of cases in U.S. courts, urged the creation of 40 new judgeships, even offered to split them evenly between Republicans and Democrats. But the Democratic Congress, gambling that there would be a Democrat in the White House this year, ignored Ike's request, waited until last May to provide for the new judgeships, then baked itself the tastiest patronage pie in a long while by creating 73. Last week, in what was certain to become one of the running political fights of the year, the victors were quarreling over...
...believe our schools have been properly maintained for 40 years," he said. Obviously, he was right. For years the ponderous bureaucracy had left unspent most of the millions allocated for repairs. Last year, for the first time, the full maintenance budget of $18 million was spent, but the backlog for needed repairs is estimated at $75 million...