Word: billion
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Dates: during 1950-1959
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...Judged from the broad end of the picture tube, television had a bad year; its brightest moment shone like a candle in a morass of mediocre programs. But commercially, the industry seemed to be doing better than ever. Advertisers paid out a record $1.42 billion, a gross increase of 10% over 1957. By year's end the U.S. had a total of 512 operating TV stations (there were 495 at the end of 1957) catering to nearly 50 million TV receivers...
Ralph Cordiner has thrown all of G.E.'s energy and know-how into the atomic future. The company has $1.5 billion in Government contracts and more than $100 million in private contracts, has committed more men (14,000) to atomics, and spent more of its own money ($20 million) to build research facilities, than any other company. So far it has not made a dime on commercial business, but its hopes for the future are bright...
...latest and most controversial contribution to atomics is a plan for U.S. industry to produce competitive commercial atomic power without Government subsidy-and produce it by 1965, a good five years before most estimates. Cordiner believes that U.S. industry can do it without the massive Government aid ($2 billion so far) that has spurred atoms-for-peace to date. Says he: "The job of developing commercial atomic power should be left to private enterprise...
...confidence and year-opening optimism brought a new high for the stock market last week. When the closing gong ended trading on Dec. 31. the Dow-Jones industrial average stood at an alltime record of 583.65. The year's gain in dollar value of the more than 5 billion shares traded on the New York Stock Exchange was the largest in the Big Board's 166-year history, rising to about $275 billion from $196 billion at the end of 1957. Stock Exchange transactions totaled 747,058,306, the largest volume since 810,632,546 shares were traded...
Spurring the market's rise were reports from Detroit that automakers are scheduling January production of new cars 22% higher than a year ago. Ford stock rose 32 points when it predicted that dealers would add $1 billion to sales by marketing 200,000 to 400,000 more Ford cars in 1959 than in 1958. Ford's new Galaxie series is accounting for one-third of current sales, and the Ford division will increase its January production schedule of these models 15%. General Motors' Cadillac division reported that retail deliveries of Cadillacs in the first 20 days...