Word: billioned
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Dates: during 1960-1969
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...tobacco industry is suffering. In 1968, cigarette sales declined for the third straight year. The decrease, from 572.6 billion cigarettes in 1967 to 571.7 billion last year, seems minuscule. But it is disturbing to an industry that had been able to count on steady growth be fore the 1964 Surgeon General's report linked smoking to cancer. In 1968, per capita consumption of cigarettes among American adults dropped from 210 packs to 205. Overall industry profits remain high, but only because the tobacco men have been able to step up exports and sales of non-tobacco items...
...purely economic terms, the stakes are high. The tobacco industry accounts for 1% of the gross national product, contributes half of its $8 billion annual sales to federal and local taxes and helps to support 85,000 manufacturing workers, 1,200,000 retailers and 700,000 farm families. Still, the question of regulation of cigarettes goes much beyond economics and has, in fact, created a curious liberal-conservative polarity. The conservative Dallas News accuses "the liberals in Washington" of crusading for "censorship, pure and simple." Adds the New York Daily News: "Nuts to you, Big Brother...
...School professor Abram J. Chayes, speaking on the proposed Safeguard antiballistic missile system, yesterday charged the Nixon administration with asking the American people to "buy a $6.5 billion pig-in-a-poke...
Spreading Ranks. With scores of new franchised outlets opening their doors every day, the industry has lately been expanding by about 15% a year. The nation's 500,000 franchise operators enjoy a $90 billion-a-year business, accounting for 10% of the total U.S. output of goods and services and a remarkable 28% of retail sales...
Litton's latest merger is far smaller than James Ling's $425 million J. & L. deal, and does not even involve an American concern. The FTC's target is a pair of West German typewriter makers in which Litton (1968 sales: $1.9 billion) bought a majority interest last January. Their worldwide sales total some $52 million, but only $7.5 million comes from the U.S., where their Triumph-Adler brand of typewriters accounts for a minuscule share of the market. But the FTC complains that the acquisition tends to "lessen competition" in violation of the Clayton Antitrust...