Word: cutbacks
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Financial Aid in the form of loans was particularly applicable to the Class of '58, since it suffered a scholarship cutback, which was intended to compensate for a larger number of awards and acceptances in the Class of '57. Percentage of students on scholarship in the class was trimmed to the level of the Class...
...same time the Air Force dropped 49 members of the class of '56 from its program. This was per order of the Defense Department, which found the Air Force short on pilots and long on ground men. It ordered a cutback on non-flying cadets more severe than the previous spring's limitations...
...election, a big B-29 contract was canceled, and one Wichita plant had to be shut down. The next day, another sweeping cutback hit Seattle as well. New President Allen went home and muttered dazedly to his wife: "My lord, the roof has fallen in." In 60 days, $1.5 billion in contracts were canceled, more that 38,000 workers laid off. Bill Allen remembered the grim joke North American's James H. ("Dutch") Kindelberger once told him on the boom-or-bust character of the industry: "If I stub my toe and fall while running to lay off people...
Acting to stem a further flood of wheat into storage,. Farm Secretary Ezra Taft Benson this week ordered a 13% cutback in next year's planting acreage. In what he acknowledged as perhaps the strictest control plan in U.S. farm history, Benson also ordered farmers to comply with planting allotments on all their crops for which restrictions may be set in order to qualify for price-support aid on any crop. Though he "greatly regrets" such action, Benson said he has "no immediate choice" under present crop conditions...
Cancellations & Cutbacks. In their anger against the court, gasmen talked of a sharp cutback in new drilling and exploration, rather than take high risks with the expectation of getting only a 6% return. Some producers planned to avoid FPC regulation by diverting gas to uses within the states where it is produced. Many producers planned to cancel contracts with pipeline companies, in conformance with cancellation clauses that go into effect if FPC gets or exercises rate-setting powers...