Word: budd
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...Billy Budd, which as a novel is a skinny English Lit cousin of Moby Dick and as a play was drydocked after a brief Broadway run, finds itself as a beautiful, terrifying and heartbreaking film. The transformation is the more admirable for the fact that Billy Budd is essentially a morality play with an unpopular moral: absolute good and absolute evil must always destroy each other...
...Billy Budd, a handsome and guileless young sailor, steps on deck of H.M.S. Avenger one day in 1797, impressed into naval service at a time when the French threatened the British navy on one hand and the spirit of mutiny sapped it on the other. His shipmates are a sorry, ragtag lot, full of hate and fear for the sadistic master-at-arms, Mister Claggart. They find in Billy Budd's artless warmth a hope that somehow he can save them from Claggart's bullying; even the Avenger's aloof Captain Vere takes a liking...
...instrument for enforcing discipline is Claggart. As long as Claggart keeps his villainy within the bounds of the articles, Vere, though he despises him, feels compelled to keep him aboard. This is a fateful decision, for it seals a doom not only for Claggart but for Billy Budd as well...
Died. Jerry Wald, 49, chunky, eclectic moviemaker whose perpetual motion picturing made him one of Hollywood's most prolific producers (The Man Who Came to Dinner, Mildred Pierce, Peyton Place, From Here to Eternity); whose detractors claimed he was the prototype for the fast-rising heel in Budd Schulberg's What Makes Sammy Run?, left a vice-presidency at Columbia Pictures in 1956 to form his own company, had as many as 24 films before the cameras at the same time, once remarking, "If I were a multimillionaire, I'd pick this business as a hobby...
Some of the sharpest sales declines were in transportation. Budd Co., the Philadelphia trainmaker, dropped 28% in sales, and Douglas Aircraft 33%. And as in 1960, 24 of the nation's biggest industrial companies actually operated at a loss. General Dynamics, which lost a massive $143 million on its jet-transport debacle (TIME, Sept. 15 et seq.), led the red-ink list. It was followed by J.I. Case (loss: $32 million), Yuba Consolidated ($14 million), Ling-Temco-Vought ($13 million), Underwood ($9 million) and Hearst ($9 million). Of these seven heavy losers, all but Ling-Temco-Vought had also...