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...biggest U.S. power generator, skipped its dividend for the first time in its 89-year history. The news gave Wall Street a high-voltage shock. Con Ed stock promptly lost a third of its value, dropping from 18 to 12 (it closed the week at 12⅜), and the dive dragged down prices of many other utility stocks...

Author: /time Magazine | Title: UTILITIES: Shock from Con Ed | 5/6/1974 | See Source »

Beset on all sides by worsening economic news-a deep dive in labor productivity, a continued spiral in interest rates, a lag in business spending for plant and equipment-the Nixon Administration clings fast to an optimistic scenario. It insists that the slumping economy will turn up and the nation's frightening inflation rate will go down, helped by the Federal Reserve Board's continuing efforts to hold down growth of the money supply. Last week, Federal Reserve Chairman Arthur Burns pledged in unusually strong terms to pursue that policy-even at the price of further hurting...

Author: /time Magazine | Title: POLICY: Wrestling with Slumpflation | 5/6/1974 | See Source »

Contracts for July delivery of wheat, which sold in February for as much as $5.85 a bushel, are now down to about $4.10. Corn has dropped from $3.50 a bushel to $2.55; and soybeans have fallen from $9.03 to $5.35. A dive in demand for red meat at supermarkets, reflecting consumer resistance to high prices, has hit the cattle market. Steers last week sold for $41.50 per 100 Ibs. v. more than $50 in late January...

Author: /time Magazine | Title: COMMODITIES: Cropping the Price | 4/22/1974 | See Source »

Sophomore Dave English will try to continue his string of strong performances in the 1-meter dive, while freshman Roger Johannigman will be attempting to rebound from a two-week layoff...

Author: By Dennis P. Corbett and James W. Reinig, S | Title: Swimmers Vie for Eastern Aqua-Crown | 3/7/1974 | See Source »

Nicolson was commissioned not only to end the two lines' steep financial dive, but also to merge them into one carrier, British Airways. A newcomer to airlines, he was at first greeted with distrust. Workers, fearing mass layoffs after the merger, even threatened not to paint new insignia on the planes. So Nicolson, 51, came in like a lamb. He set up no fewer than 20 worker-management committees to determine everything from the merged line's colors to the future of its cargo operations. By combining separate operations-like the carriers' computer systems...

Author: /time Magazine | Title: Business: Flying Nicolson's Way | 11/26/1973 | See Source »

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