Word: corpe
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Dates: during 1950-1959
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...breakthroughs came at an awesome rate. Raborn needed a reliable solid fuel, for liquid fuels are both too volatile and too bulky for shipboard use. Aerojet-General Corp. and Thiokol Chemical Corp. brought out solid fuels with a wallop ("as simple," says Raborn, "as the comb in your pocket"). Even so, solids presented a big problem: how to cut off burning with the split-second precision necessary if the missile is to land on target. (Liquid oxygen can be shut off mechanically with a valve.) The solution: a design called a retrorocket that automatically blasts portholes in the fuel chamber...
...three months political India has been agog over a scandal centering around one of Prime Minister Nehru's principal aides, Finance Minister T. T. Krishnamachari, and one of Nehru's pet Socialist projects, the newly nationalized Life Insurance Corp. The scandal broke last November when Nehru's son-in-law, Feroze Gandhi,* rose in Parliament and asked the minister a pointed question: Had the new corporation used the premium payments of India's 5,500,000 life-insurance policyholders to buy up shares at above-market prices in companies controlled by a notorious stock speculator named...
...giants of U.S. industry rolled out their 1957 earnings reports last week, there were some surprises. American Telephone & Telegraph Co. bopped General Motors Corp. as the nation's No. i earner -$852.9 million to $843.6 million-the first time in eleven years that G.M. has been dethroned. And some of the biggest companies showed earnings gains for the fourth quarter, despite the recession. > General Motors' yearly profits dipped to $2.99 a share v. $3.02 in 1956, but fourth-quarter earnings rose...
CHEAPER AUTO LOANS are expected. As a start, to finance inventories, big lenders have lopped ½% to 1% off loans to dealers: General Motors Acceptance Corp. rates are down to 4½%; C.I.T. Financial Corp.'s to 5½%. Result: dealers' operating costs are lower, and retail buyers may drive harder bargains...
Relentlessly, he kept up his fight for Tidewater. In 1948 he got Mission Corp. to form a new holding company, called Mission Development Co., as an ingenious vehicle to swallow up Tidewater stock as Mission Corp. acquired it. He then had Pacific Western buy 127,777 shares of Tidewater's common stock from a Dutch brokerage house, giving him control of 35% of Tidewater's outstanding stock. By 1951 Getty had won numerical control of Tidewater, and in 1953 he elected all but one of his directors to the board. Tidewater had been sitting for years...