Word: corp
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Dates: during 1960-1969
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...special-metals subsidiary almost entirely to defense production and to delay deliveries of alloys to civilian customers in the transportation, construction, aircraft, electricity and even nuclear-energy fields. Instead of shutting down its Christy Park Works and laying off 500 workers, as it had announced last year, U.S. Steel Corp. has the plant going full blast, with 2,000 workers turning out bomb casings and air-to-air missile warheads...
More Strain Than Gain. The draft, and the tendency of more and more students to stay in college to preserve their draft-free status, are heightening the already severe labor shortage. Motorola Corp. Chairman Robert Galvin last week cited the labor squeeze as a prime reason why the company's earnings are expected to drop in this year's second half. To recruit, some companies resort to blind mailings; Automatic Electric Co. recently sent letters to people living near its Chicago plant, asking, "Are you happy with your job?" By contrast, the Pennsylvania Power & Light Co. has more...
Gloomy Diagnosis. The other great subject for discussion, aid to underdeveloped countries, got a gloomy diagnosis from the financiers in Washington. The World Bank and its offshoots, the easy-loan International Development Association and the private enterprise-oriented International Finance Corp., have made a grand total of $11 billion in loans in 20 years. The needs are growing and the resources diminishing. The growth rate of the underdeveloped countries has already fallen from 5% a year in the last decade to 4% now. Tight money, high interest rates, inflation and payments deficits make it harder for the rich countries...
...Holland, Grace so far this year has picked up Nalley's, Inc., a snack-food producer in Tacoma, Wash., with annual sales of about $45 million, and Marela, Ltd., a pickle firm in Britain. Before the end of 1966, Grace hopes to buy out Sea-Pak Corp. of St. Simons Island. Ga., a $25 million-a-year frozen-seafood company...
...British and French hope to fly a prototype Concorde in February 1968, test a second prototype in the summer of '68, and have their SST operational by 1971. The British Aircraft Corp. is building the nose and tail sections for the 1,450 m.p.h., 140-passenger Con corde. Britain's Bristol Siddeley is mak ing the engine. France's Sud-Aviation is responsible for the wings and midsection. To break even, the builders will have to sell about 140 Concordes at $16 million each; already 60 are on order, including eight for Pan Am, six apiece...