Word: board
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Dates: during 1970-1979
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Slump. "The recession is on," says Walter Heller, a member of TIME's Board of Economists. The Government has made no official announcement of this (a recession is customarily defined as two quarters of declining production), but it unofficially estimated last week that national output of goods and services dropped at an annual rate of 2.4% from April through June. OPEC's oil boosts make this downturn immeasurably harder to reverse; they will drain perhaps $30 billion out of Americans' pockets by the end of 1980. Unemployment has been holding steady at just under 6% so far this year...
Like the horse rustlers of an earlier era, gas thieves were on the prowl. Usually they siphoned off gas; occasionally they took the whole car. Some resorted to ingenious ruses. Two men were arrested in Miami after police discovered that a floor board had been cut out of their dilapidated van. Underneath was $5,000 worth of equipment, including intake hoses, battery-operated pumps and a 350-gal. storage tank. Apparently the pair would drive into a station, casually park over an unlocked underground tank and help themselves. On a smaller scale, thieves faced another kind of retribution...
Capital funds spent for such renovations must be approved by the Board of Overseers, Wilson said...
...independent entity in 1973 and progressed rapidly toward bankruptcy. The trouble was that Westenburg tried to do everything himself: collect texts, read program proofs, deliver checks to the musicians' union. Finally, with help from the New York State Council on the Arts, he hired an administrator, assembled a board of trustees and learned the ways of fund raising ("We'd invite people to dinner and then sock it to them...
...most knowledgeable supporters is Nora Kaye, a former A.B.T. star and now a board member. "This is a natural step, but not an easy one," she says. "A.B.T. has never had a real artistic policy. Misha is intelligent, and I hope he will find young choreographers and nurture them. He will be good for the dancers, because he is not jealous in any way-and that is rare. But at first there will be trouble. He will have to sweep out the people he can't use. I think he should be courageous...