Word: corp
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Dates: during 1960-1969
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...selling bonds to his congregation; they liked it because "they owe the money to themselves," and he liked it because many holders eventually "convert the bonds into donations." Others insist on more businesslike borrowing from banks or from such church-sponsored agencies as the $100 million American Baptist Extension Corp. Roman Catholics favor blunt fund-raising campaigns to finance major building programs. In the fall of 1962, Archbishop Joseph T. McGucken began a $15,500,000 campaign, partly to pay for a new cathedral in San Francisco to replace the one that burned. He had no trouble raising the amount...
Sculptural Typewriters. The Olivetti Corp. of Italy has made beautiful typewriters by dumping the portable from its box and embedding the keys like ranks of tiny birds in a nest. Braun Co. of Germany spends money that it otherwise would plunge into advertising on teaching employees the principles of good design. The effect carries on the Bauhaus tradition in toasters, hair dryers, and transistor radio-phonographs that are perfect plastic sculpture...
Died. Marx Hirsch, 76, recently retired president of Molybdenum Corp. of America, who helped found the company in 1920 to refine steel-hardening molybdenum, in 1950 made a major splash when his prospectors discovered, near Mountain Pass, Calif., the world's largest deposit of exotic "rare earths," whose yet-to-be-exploited heat-resistant qualities make them the promising metals of the atomic age in nose cones, reactor shields and other critical parts; of a heart attack; in Manhattan...
While the nation worried about the possibility of an auto strike, each of the three union bargainers assigned to the Big Three makers argued for the privilege of having his firm selected as the United Auto Workers' strike target. Finally, Walter Reuther gave the nod to Chrysler Corp., at the same time moving the strike deadline back to Sept. 9 so that there will be labor peace during President Johnson's Labor Day speech in Detroit. Following the divide-and-conquer technique that he has used so successfully in the past, Reuther hoped to pressure Chrysler into granting...
...Japan. The Indian government, which has often been suspicious of private investment, last week gave approval for a plan to study the building of five fertilizer plants in India at a cost of $350 million, $200 million of which would be put up by San Francisco's Bechtel Corp. and a consortium of U.S. firms...