Word: cementation
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...Fans Are Different. For nine months of the year, except for occasional forays with Hope, Les & Co. are set as solid as cement in Los Angeles. The take, including record royalties, is $350,000 a year. The musicians, most of whom have been with Les five to ten years, earn around $10,000 apiece, and are settled family men with permanent homes around Los Angeles. This gives the Band of Renown a respectable pipe & slippers atmosphere, in contrast to the breathless, upper-berth days of the middle '30s, when Benny Goodman, Tommy Dorsey and Jimmie Lunceford rocketed around...
Gaudi's largest and most fantastic work is Barcelona's awesome stone, iron and cement Church of the Holy Family. He spent 40 years on its honeycombed towers and the weird, grotto-like encrustations of its walls, but it was still unfinished when he died...
...barracks near Benghazi as his palace. He trusts the West, and privately refers to the seven-nation Arab League as "an alliance of weaknesses." But recognizing Libya's kinship with the rest of the Moslem world, he plans to join the Arab League. "If anybody ever succeeds in cementing this country together," says an English veteran of Libya, "it will be the King. The cement is Islam-these people really believe and live Islam." (The first daub of cement: a royal decree establishing two capitals, the main one in Tripoli, and the second in Benghazi to allay Cyrenaican fears...
Millions & Millions. Once in debt to the Government up to his eyeballs, Henry Kaiser has now paid off more than $244 million. Of all his enterprises, ranging from autos, cement, magnesium and steel to aluminum and houses, only his auto company, Kaiser-Frazer, is still in debt to the U.S. It owes $51 million. Kaiser has little trouble getting money from private sources. He has recently arranged for: i) a $17,-500,000 preferred-stock issue to finance the rest of his new aluminum plant, and 2) $65 million in new private financing to add a third blast furnace...
...taxes than last year, despite a 60% increase in its tax bill. Kaiser's explanation: "Efficiency." His aluminum net for nine months is equal to 12.5% of sales, v. 7.6% for the two other U.S. producers. But not even "efficiency" was sufficient, in the case of his Permanente Cement Co., to overcome higher taxes. Earnings are down 20% this year...