Word: billion
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Dates: during 1950-1959
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...assets total some $2 billion, and receipts run to $500 million annually, but exactly what it spends and earns is a mystery even to the government owners; its balance sheet is, by Mattei custom, uninformative. With it he can buy political influence-he is a lavish contributor to the Christian Democratic Party-but Mattei, independently wealthy, lives almost austerely in a Rome hotel, turns over his salary to charity. At 53, his main interest outside of ENI is trout fishing. "I am going to retire at 60," he says, and critics ruefully acknowledge he is so well entrenched that there...
...business booms for Sanson and his brother builders, conservative economists gloom over the facts and figures of what seems to promise serious economic trouble. The cost of living has vaulted 365% since 1948, 27% in the past two years. More than 120 billion cruzeiros, each worth four-fifths of a cent at the free-exchange rate, are bursting pocketbooks (v. only 20.5 billion, each worth 5.4?, ten years ago). From a $248 million foreign-trade gain in 1956, Brazil plummeted into a $97 million loss in 1957, a $166 million loss in 1958. Loan interest, loan repayments and massive installments...
...building, which has been setting record after record, last week reached a new high. So reported the Departments of Labor and Commerce. Total new construction reached $4.2 billion for April, up 13% over last year for the first four months. Private construction, up nearly $400 million over last year to $2.9 billion in April, also reached a new record of $10.7 billion in the first four months, largely helped by a 29% rise in home building over last year. Federal Housing Commissioner Julian Zimmerman predicted 1,284,000 new housing starts...
Sales of room air conditioners generally follow the thermometer. The past two summers were cool, and the industry's sales were slow, sliding along at roughly the 1956 level of $3.2 billion. This season is shaping up as the hottest in the industry's 57-year history. Carrier Corp., the industry's Goliath (total 1958 sales: $252.5 million), is selling room units 32% ahead of last year, and Fedders Corp., biggest seller of room units (fiscal 1958: $53.9 million), is running 10% ahead in shipments. In March alone, Westinghouse, which has air-conditioned everything from President Eisenhower...
...Commerce Department said the gross national product--the value of all goods and services produced--rose $14 billion to a record annual rate of $467 billion...