Word: coaling
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Dates: during 1960-1969
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...Halifax, Nova Scotia, McColough served in the Royal Navy in World War II, got a Harvard Business School degree in 1949, quickly decided that "business is more interesting in the U.S. than in Canada." He almost changed his mind in 1954 when, after five years with small Lehigh Coal & Navigation Co., he went for a job interview at Xerox (then Haloid). "It wasn't very impressive," McColough recalls. "I went up to see one of the vice presidents and he had a workman's black lunch pail on his desk and his bookshelf was a painted orange crate...
...refrigerator stored with home-bottled pickles, beets, scallions and ? two weeks of the month ? spareribs or ham burger. Eb wryly remarks that there are advantages to blindness: it gives him an honorable excuse for being on the dole. Since the hardwoods were lumbered off and the deep coal mines virtually gutted in the early 1950s, welfare is about the only industry left in the mountains...
...economy, too, has suffered ruinously. In February, Chou En-lai warned that China's vital coal production had fallen off alarmingly. Transportation has been totally disrupted, and sabotage of trains is common as the Maoists and anti-Maoists fight. Trucks are often idle for lack of fuel. China's biggest oil refinery at Taching was partly destroyed by sabotage and is still operating well below capacity-and below China's needs. Shortage of oil cut power to three hours a day in Canton in January, left Peking without heat for much of the winter. Steel and textile...
...reduce smog over cities, one of the most visible and worst forms of pollution, smog-causing power plants might be eliminated from densely populated areas. Why not generate electricity at the fuel source-distant oil or coal fields-and then wire it to cities? On the other hand, industrialization must not be taken to distant places that can be better used for other purposes. Industrializing Appalachia, for example, would smogify a naturally hazy region that settlers aptly named the Smokies. The right business for Appalachia is recreation; federal money could spur a really sizable tourist industry...
Soft in the Middle. Like an aging athlete whose stomach muscles have turned to flab, U.S. trade shows a soft middle. Exports consist heavily of raw materials (coal, grains and soybeans, for example) and the high-technology output of the world's most research-minded corporations (computers, aircraft, electronics). Between those extremes, chronic trade-balance weakness is suffered by at least 122 manufacturing industries. Among them: steel, paper, food-and-drink, glass, textiles, apparel, lumber, leather, shipbuilding, autos, watches and sporting goods. In 1-966, those 122 provided 35% of the nation's industrial jobs, but they...