Word: cementing
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Dates: during 1950-1959
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While the U.S. could take some satisfaction from seeing Communism boring into itself from within, there were other great issues that sorely needed presidential tending in the free half of the world. Priority for Ike during the weeks ahead: 1) restoring the cement and the feel of Western unity, 2) framing something better than the U.S.'s day-to-day policy in the Middle East, 3) articulating a world economic policy to fit, in today's international framework, the funds to be voted by Congress (see The Congress) for foreign...
...Fast. In one respect Menderes' boldness betrayed him. After coming to power he embarked upon an economic program designed to transform Turkey overnight into a modern industrial nation. All over the country power plants, steel mills, textile mills, cement-making factories began springing up, and work was begun on new roads, new irrigation projects and big harbors. To do this Turkey went head over heels into debt, mostly on short-term credits at unfavorable terms. Worse, many of the new projects proved to have been ill-planned, e.g., sugar factories where there were no sugar beets...
Useless piles of cement still stood high on Rangoon's docks, tying up harbor traffic and running up demurrage charges. In all, 124,000 tons of it had been unloaded on an inexperienced Burmese trade delegation by Communist negotiators in return for surplus rice (TIME, May 21). Ordinarily, the Burmese would have been delighted by India's offer last week to buy 50,000 tons...
...India offered only $24.67 a ton for the cement, which Burma had bartered from Russia, Czechoslovakia and East Germany at the exchange rate of $29.12 a ton. India was not trying to pull a fast one: New Delhi said its bid was based on cement prices quoted to it directly by the Soviet Union. In its headlong rush to woo, Russia had been willing to sell more cheaply to India than to Burma, a country which in the Communist scale of things is not as important...
Fontana's addition is only a small part of Kaiser Industries' vast expansion under Henry J. and his son, President Edgar F. Kaiser, 47. Edgar is also directing a $33 million expansion for Permanente Cement and a $500 million expansion for Kaiser Aluminum which will push it up to second place in the industry, 28% behind Alcoa...