Word: corpe
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Dates: during 1950-1959
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Major Howard Johnson, 38, U.S.A.F., made a casual stop at a cafeteria one morning last week, drank a cup of black coffee, then went on to work at the Lockheed Aircraft Corp. plant in Palmdale, Calif. There, at Air Force Plant 42, ruddy, husky (5 ft. 8 in.. 170 Ibs.) Pilot Johnson squirmed into a pressure suit, picked up his helmet, oxygen mask and parachute, walked out to a dainty, needle-nosed F-104A Starfighter, a silvery sliver of jet aircraft with short (7½ ft.), knife-edged wings. Johnson checked the plane carefully: 5,000 Ibs. of fuel...
BUILDING COSTS "will push upward at the rate of about 1 % every four months" for the next year at least, predicts authoritative F. W. Dodge Corp...
...thirds of the delegates were opposed to a tax cut now, said Secretary of Commerce Sinclair Weeks. Opposition to a cut centered in the council's committee on taxes-headed by President Paul C. Cabot of Boston's State Street Investment Corp.-which questioned the value of "sprinkling a few dollars per taxpayer over the economy," considered a tax cut only a surface palliative for deeper economic ills. If a tax cut is inevitable, said the committee, it should be framed as a long-range reform of the entire tax structure instead of just a slash to spur...
Keep Your Shirt On. One of the most vocal members of the antitax faction was George Humphrey, former Secretary of the Treasury, now board chairman of National Steel Corp. Snorted Humphrey: "They say a budget deficit is needed to cure the recession. Well, we've got one already." The tax cut he sponsored in 1954 was an "honest" tax cut, said Humphrey, because it was covered by savings in Government spendings. But present tax cut proposals are "dishonest" because they involve bigger Government deficits. Humphrey's formula for curing the recession: "Keep your shirt on." Against this view...
...aircraft, stocks on the Dow-Jones industrial average climbed two points higher during the week to hit a new high for the year at 462.56, nearly 43 points better than the recession low of last October. Poor earnings were easily shrugged off. At the annual meeting of Radio Corp. of America, President John L. Burns gave 1,275 stockholders of the world's biggest electronics company the bad news about a 29.7% first-quarter decline in earnings, to $9,000,000. But the stock went down only one-eighth of a point...