Word: bil
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...C.W.A. announced the increases would cost Ma Bell no less than $2 bil lion as the average hourly wage of telephone workers rises from $2.89 to $3.46 over the three-year period. A.T. & T. denied the cost would be that great. Even so, warned A.T. & T. President Ben S. Gilmer, "the increased costs these settlements impose will inevitably have some effect on the rates our customers pay for service." In other words, telephone bills are going...
Klockner already had control of 32% of Fahr's stock when, in December, it learned that International Harvester, which last year had sales of $2.5 bil lion, had hinted it might offer Fahr up to $100 for shares valued at $15 on the market. With sales of $335 million, Klockner could hardly match the Chicago company's bid. But neither Klock ner nor the 500 members of the Fahr family and their 4,000 employees wanted an American owner to take over the 98-year-old company. They remembered only too well what happened to Heinrich Lanz...
Died. Cora Baird, 55, puppeteer; of cancer; in Manhattan. With her husband Bil, she created a magic world of dancing figures and impish characters, and for 30 years their Baird puppets, starring Hedda Louella McBrood and Edward R. Bow-Wow, entertained countless children in films, on TV and in shows from India to the White House...
...conglomerate companies like Gulf & Western Industries, such mergers have had spectacular results. Under Chairman Charles Bluhdorn, Gulf & Western, which a decade ago was an ailing Houston auto-parts company, has gobbled up one company after another (among them: Paramount Pictures, New Jersey Zinc) to balloon into a $1 bil-lion-a-year operation. A pioneer in the conglomerate-building field, Los Angeles' Litton Industries, which was started almost from scratch by Chairman Charles B. ("Tex") Thornton (TIME cover, Oct. 4, 1963) and President Roy Ash in 1953, is still building. Last week, Litton (1966 sales: $1.2 billion) arranged...
Whatever the level of federal bil lions, the U.S. is going to need the kind of overview offered by urbanologists like Moynihan if its cities are to survive and thrive. Last spring, Rhode Island's Providence College awarded Moynihan an honorary degree that was accompanied by a particularly apt citation: "You have dared to throw light on some of the most frightening problems facing urban dwellers, not to elicit common agreement with your solutions so much as to force us to look where we would rather not." Moynihan and the other urbanologists may not have all the answers...