Word: coppers
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...wages. But there is evidence that guidelines and "jawboning" intervention by the White House held down some prices during the Kennedy-Johnson era. Arthur Okun, a member of TIME'S board, figures that prices rose 1.7% a year between 1966 and 1968 for 15 jawboned industries, including steel, copper, autos and aluminum?but that prices jumped 6% in those industries in Nixon's first year. When Nixon made the mistake of proclaiming at the start of his presidency that he would do no jawboning, businessmen and labor leaders took his announcement as a signal to go for all the increases...
Beyond that, CATV could change the country's way of life. Its copper coaxial cables, though larger than telephone cord, have 1,000 times the communications capacity. Washington willing, the U.S. could be transformed into what some call "the wired nation." Within ten years, CATV's two-way conduits could provide set-side shopping and banking, dial-a-movie service, a burglar and fire watch, and facsimile print-outs of newspapers or even library books...
Since there is a limit to the money that can be wrung from oil, the government is giving increased attention to the transformation of the southwestern province of Khuzestan into a huge agricultural-industrial complex. In addition, great copper deposits are being mined in the Kerman area of central Iran. A dozen major dams are under construction around the country...
...Ling says, many of his company's nine subsidiaries were hurt by un foreseen events. The economic slow down cut Braniff's passenger traffic, a rise in copper prices hurt Okonite's prof its and the pullback in defense contracts reduced the earnings of both LTV Electrosystems and LTV Ling Altec...
...chairman, contends that Nixon has in effect declared "open season" for unions and companies to get all they can. Okun figures that between 1966 and 1968, wholesale prices rose an average 2.3% a year for most industries; they went up only 1.7% in 15 "jawboned" industries, including steel, copper, autos and aluminum. During 1969, says Okun, prices in those formerly jawboned industries rose 6%, v. a 3.5% rise for other industrials...