Word: fasters
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Dates: during 1960-1969
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Public universities have been a vital force in America's higher learning since the Morrill Land-Grant Act of 1862, which gave every state federal lands to support the creation of colleges devoted to vocational training and agricultural research. But these schools have grown faster in the past five years than in any similar period in their history, and in enrollment the public colleges and universities today clearly outstrip the nation's 1,200 private ones. As recently as 1950, the two sectors of higher education had almost equal enrollments; today more than two-thirds of all college...
...since 1950, nearly twice as fast as runner-up electric utilities. In the year just ended, the airlines outdid themselves. Operating revenues rose 23% to $7 billion, and traffic gained 25% to 100 billion revenue passenger miles (the number of paying passengers multiplied by the distance flown). Yet the faster the airlines grow, the more they must strain for funds to finance tomorrow. Pan American World Airways last week obtained $180 million through 25-year notes placed with 50 institutional investors; at the same time, United Air Lines arranged to borrow $200 million from eight life-insurance companies until...
...airlines must borrow to finance most of their growth because their profits, though expected to rise from $430 million in 1966 to about $450 million in 1967, are being squeezed by costs that are climbing faster than revenues. Airline mechanics won a 16% pay increase (over three years) after a crippling six-week strike a year and a half ago. Airport landing fees are increasing. The new jumbo jets will require vast outlays for new terminal facilities. Air-traffic delays have mounted beyond expectations; during July alone, they cost Eastern Air Lines $1,200,000 more than had been budgeted...
Sympathetic to such protests, U.S. companies have begun to share technology. IBM has assigned two important projects to its European laboratories, a cheaper, faster computer memory system and a more flexible programming language, in order to develop their skills. Jersey's Esso Research recently opened a 50-acre center in Brussels where scientists from eleven nations will work together. "We won't have done our job," says President Erving Arundale, "until American consumers are using products that we have developed here in our European labs...
...were deluged with deposits. Thus housing became the year's comeback industry, climbing from an annual rate of 1,111,000 private starts in January to 140% of that level. On the other hand, retail sales-which normally account for two-thirds of what consumers spend.-rose barely faster than consumer prices, which jumped 21%, on top of a 3% gain...