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...novice in artfully constructing import hurdles. Mandatory or "voluntary" quotas limit imports of steel, oil, cotton textiles, meat, sugar and dairy products. "Buy American" legislation bars the 'Government from purchasing foreign goods unless the price is 6% below that of comparable U.S. products. The "American Selling Price" system permits duties on benzenoid chemicals used in dyes and vitamins to be set not on the price of the import but on the cost of making the same chemicals in the U.S. Europeans complain that overly severe American health rules keep out many farm products...

Author: /time Magazine | Title: The Economy: The High Stakes Of International Poker | 9/20/1971 | See Source »

...Robert R. Young. He was president of Young's Alleghany Corp., the holding company that controlled the New York Central Railroad and still controls Investors Diversified Services. In 1967 he moved to ITT as special assistant to Chairman Harold Geneen, but ITT insiders say that he did not cotton to Geneen's authoritarian ways and had been looking around for some time...

Author: /time Magazine | Title: EXECUTIVES: New Face on the Tube | 9/20/1971 | See Source »

...Never leave the operations area for a minute, because the moment you depart a ride always seems to turn up. I missed two flights that way, one direct to Los Angeles. 4) Make friends with everyone-the ground crewmen always know where a ride might be found. 5) Bring cotton or earplugs-my ears still ring from jet noises. 6) When asking for a ride, be direct but lighthearted, and don't push if the answer is negative. 7) Carry lots of books for long waits. 8) Avoid Cody...

Author: /time Magazine | Title: Modern Living: Hitchhiking by Air | 8/16/1971 | See Source »

...many respects, the boycott and other forms of Arab hostility have strengthened rather than weakened Israel's economy. Because Egyptian cotton was unavailable, Israel began to grow its own. Because Israel had to trade far from its natural markets, it developed a large merchant marine (more than 1,500,000 tons today v. 22,000 in 1948). Because many foreign airlines refused to land at Israeli fields in 1948, El Al was formed. In a period of trouble for all airlines. El Al is doing relatively well (see BUSINESS...

Author: /time Magazine | Title: The World: The Superfluous Boycott | 7/19/1971 | See Source »

Word of Trevino's feats soon reached Martin Lettunich, a wealthy cotton farmer who had been steadily losing bets to a hot local golfer at the Horizon City Country Club in El Paso. Seeking revenge, Lettunich telephoned Trevino in Dallas and offered to pay his expenses if he would come to El Paso and play the home-town star in a "sociable game." Trevino. who was broke as usual, agreed to come, instantly. "I shot a 65 and 67 and beat him like a tom-tom. I turned him every way but loose." That earned Trevino $300 and the chance...

Author: /time Magazine | Title: Sport: Lee Trevino: Cantinflas of the Country Clubs | 7/19/1971 | See Source »

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