Word: basic
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Dates: during 1940-1949
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Undoubtedly, the election was a complex event, the product of enough variant factors to cloud any inherently clear meaning for the press. Most reputable middle-of-the-road journalists nevertheless agree that, while the Truman victory doesn't admit to pat analysis, the basic reportorial error, attributable to whatever primary cause, is quite uncomplicated in its implications. Correspondent James Reston wrote to his own New York Times the morning after that "we were wrong, not only on the election, but, what's worse, on the whole political direction of our time." Richard Lee Strout of the Christian Science Monitor...
...union had demanded the increase for 30,000 workers in the New Bedford-Fall River area, which traditionally sets the northern wage pattern in cotton. (But not for such basic industries as autos and steel.) Arbitrator Douglas V. Brown, of Massachusetts Institute of Technology, said no. In professorial tones, he warned that the industry faced "a decrease of an insufficient increase in demand." (Translation: business isn't very good...
Harder Selling. Few businessmen were worried. They did not think that the economy would bog down because of a few soft spots as long as the basic industries were humming. Example: steel mills, operating at capacity for the second week in a row, turned out 1,845,000 tons...
Sharks & Whales. Since 1946, Rock Bros, has poured $7,000,000 into Nelson's International Basic Economy Corp., which starts new Latin American businesses in partnership with local capital. Another $5,000,000 has gone into such varied enterprises...
Died. George Jackson Mead, 57, co-founder of Pratt & Whitney Aircraft Co., aircraft engine designer (he developed the Wasp engine, which provided the basic design for half the power plants used in World War II U.S. warplanes); after long illness; in West Hartford, Conn...