Word: ended
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Dates: during 1950-1959
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Touch & Go. At war's end Smith returned to American, convinced that the great strides made during the war in air transport would bring on the air age and a huge new air-travel market. Just as he had worked with Douglas on the DC-3, he encouraged the firm to build the four-motored, long-range DC-6s, boldly ordered a fleet of 125 DC-6s and shortrange, two-engined Consolidated Vultee CV-240s. As usual, he showed himself a master at timing and bargaining. So eager was Consolidated (now Convair) for orders to relieve its postwar slump...
...market got another push from the short supply of stocks; mutual funds and other long-term investors have bought so much stock that comparatively small orders push prices up. When waves of profit-taking brought a dip, new buyers soon started prices up again, though at week's end the market had eased from the record high...
Smith has some of the oddest working habits of any man in top industry. His typewriter is the most important piece of equipment American owns, and Smith pecks away at it for hours on end. He writes all his own speeches, many of American's institutional ads and stockholders' reports. Though he had the same secretary for 25 years (until she retired recently), he never let her write more than a handful of letters a year...
...company, the nonvoting common stock was selling for about $175 a share on the American Stock Exchange. It has risen steadily since then and closed at $445 a share the day before the plan was announced. Next day it scooted up 40 points to close at week's end...
...premise of The Rise of the Meritocracy, 1870-2033, published in London, is merely this: every bright child, regardless of his parents' wealth or lack of it, should get the best education he is capable of absorbing. The proposition is hardly alarming, but by the book's end it has left a trail like a runaway milkwagon horse. Among the casualties: the British Labor Party (which Young served as research secretary from 1945-51); the commissar's cast of mind that sees education solely as a means for national advancement; the sociologist's view...