Word: bigs
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Dates: during 1960-1969
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When Congress finally got around to enacting the surtax at midyear, much of its effect was washed away by another big factor. While taxes went up, wages went up much faster. During the year's first nine months, about 3,400,000 unionized workers won pay raises averaging 7.5% annually, the largest gain since the Labor Department started keeping track 14 years ago. For the year as a whole, wages and benefits rose about 7%, while productivity increased only 3.2%. The result was that so-called unit labor costs jumped 3.8% -and the consumer...
Securities trading became one of the greatest growth industries. On the Big Board, the year's volume jumped 20% to a tape-taxing record of nearly 3 billion shares. The torrent swamped securities-delivery channels, spurring belated efforts to computerize archaic clerical procedures. All the trading also lifted Wall Street profits to a level that even Big Board officials consider embarrassing. Brokerage commissions reached about $5 billion, and some top customers' men earned as much as $500,000 each. Prodded by the Securities and Exchange Commission, the New York Stock Exchange cut commissions by 7% on orders...
...spotty record. In his tenure, U.S. Steel's share of domestic steel sales has slipped from 30% to 25%. Last week, hoping to reverse that trend sharply, the world's largest steelmaker picked a new management group. To succeed Lawyer Blough as chairman and chief executive, Big Steel's directors chose Edwin H. Gott, 60, an operations man who has been president for the past 18 months...
...winner, President Johnson went along with many-but not all-of the original recommendations. Probably the greatest gainer was Los Angeles-based Continental Airlines, only the eleventh biggest U.S. airline. Its new runs to Samoa, Micronesia, Australia and New Zealand will make it a sizable inter national carrier. Another big gainer was TWA, which was awarded rights to fly from the U.S. to Hong Kong, Taiwan and other places. By linking its new Pacific runs with its existing transatlantic ones, which go as far as Hong Kong, TWA will become a round-the-world air line...
Lethal Right. Raised on a ranch in Pottawatomie County, Kans. Willard migrated to Oklahoma, where he broke horses and ran a frontier freight-wagon service, Marveling at the way Big Jess tossed around 500-lb. bales of cotton, his friends told him that he was just the man to thrash Jack Johnson good and proper. Like many Americans, they considered it a national disgrace that Johnson, who eventually married three white women and romanced countless others, was allowed to reign as champion.* Willard who had never seen a boxing match sold his business and at 29 went into the ring...