Word: cutbacks
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ITEK CORP. started when its president, a wartime aerial-reconnaissance expert named Richard Leghorn (M.I.T. '39), borrowed $142,000 from Laurance Rockefeller to buy two science-heavy organizations after the defense-spending cutback hit research in 1957. With these two-Physical Research Laboratories of Boston University and cash-shy Vectron. Inc. (electronics )-Itek began with a well-shaped organization (more than 100 scientists) that would have taken years to build. Though most of its work is classified, and identified only as "graphic retrieval,'' its stock soared from about $1.60 to $60 in a year, counting splits. Among...
...this would be radical and painful therapy: Common Market membership would flood the country with industrial products cheaper and better than Spain's own : devaluation and convertibility would be hard on corrupt officials, smugglers and black-marketeers: a heavy cutback in government spending may within a month put a quarter of a million workers on the streets of Barcelona alone. Aware of the dangers-which could be political as well as economic-Ullastres told his Barcelona audience: "This is probably the worst moment through which we will pass . . . There will be a few disturbances, layoffs, reduction of production . . . increases...
...cars in May, building up stocks in case of a steel strike. The industry estimated that cars in dealers' hands rose to 900,000, highest in three years, but carmakers did not seem worried so long as sales were still climbing. They plan no major cutback in production until the end of July. The good performance so far this year-some experts predict a 6,000,000-car year - has not changed Detroit's view about the small car. Last week Pontiac and Oldsmobile joined the parade with plans to put out their own compact cars...
...only reason for the cutback in movies at all," says Metro-Goldwyn-Mayer's boss, Sol C. Siegel, "is that we will not make pictures for the sake of making pictures any more." TV has killed the routine movie for most people (who can watch all the routine movies they want to on TV), forced Hollywood to concentrate on blockbusters-the big-screen, big-star, big-color extravaganzas that often cost upwards of $3,000,000. The blockbusters have no trouble luring people away from TV, are the favorites of the drive-in theaters, which have grown from...
...added too many rich, fatty items, formerly luxuries, to the everyday U.S. diet-"Sunday dinner is no longer special . . . We have Sunday every day." Americans who used to get an estimated 30% of their daily calories in fats now get 40% or more in that form; Keys recommends a cutback to between 25% and 30%. More important, only about half of this fat should be saturated (the chemists' way of saying that the available carbon atoms in the molecule all have hydrogen atoms attached), and the rest unsaturated...