Word: budapesters
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...accent, Porter was born in England and came to the U.S. with his widowed mother at an early age. He attended Thibodeau Business College in Fall River, Mass. He clerked for a time in a Fall River haberdashery, where he met a customer who was then U.S. minister to Budapest. They fell into conversation, and after several more chats, the diplomat launched Porter's career by hiring him as his private secretary...
...BOON FOR OWNERS OF LOW-AND MEDIUM-PRICE EUROPEAN HOTELS. Construction of accommodations in Europe is becoming such a profitable investment that U.S. money built $30 million worth of hotels last year in Amsterdam alone. Hotel rooms in most price categories are very tight in Athens, Brussels, Budapest, Copenhagen, Dubrovnik, Geneva, Helsinki, London, Moscow, Prague, Salzburg, Stockholm, Vienna, Warsaw and Zurich. In almost every other top city, they are just plain tight. Prices have risen about 10% since last year. A double room with bath in a good hotel ranges from a low of $7 in Lisbon...
Died. György Lukács, 86, Communist theoretician; in Budapest. Though often called "the greatest Marxist since Karl Marx," the courtly ideologist still managed to offend both Lenin and Stalin. Lukacs eloquently criticized the rigidity of Soviet doctrine, then, while in exile in Moscow, was forced by Stalin to denounce his own early works. He survived periodic purges to join in the chorus of denunciation later directed against Stalin. A champion of such Communist heresies as pluralism and literary freedom, Lukács took part in the 1956 Hungarian uprising. He managed to avoid punishment and resumed...
...plagues all of Eastern Europe; 47% of the Hungarian population is crammed into one-room dwellings. Still, executive suites in Hungary hum with excitement as managers pore over computer printouts, circling moneymaking products in green, average earners in yellow, and losers in red. Collective farms operate small handcraft industries. Budapest's fashionable Váci Utca, now closed to auto traffic, is packed with shoppers who stroll past well-stocked jewelry shops, delicatessens, bookstores and up-to-the-minute boutiques...
Because everything depends on "economic performance" (capitalists call it profit), the manager has wide power to innovate and is highly rewarded for increased productivity. At Budapest's "First of May" clothing factory, Director Sándor Vas, cognac and Coke in hand, says proudly: "To help sell the 1,500,000 coats we produce, we have hired market analysts, learned to package our coats attractively, and visited Paris, London and Munich fashion shows. Before, we always feared competing in the Western market. To our surprise, we tripled our sales westward. We even sell embroidered coats to Japan." A consumer...