Word: fourth
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Dates: during 1970-1979
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...Cardinal Villot, the Vatican Secretary of State, informing him that Pope Paul did not want any changes made concerning the vow. The Pope did not explain why, but speculation is that he favors the elitist tradition and fears anything that might hasten radical changes. The fathers nevertheless debated the fourth vow; some proposed doing away with it altogether. Last week, however, the Congregation voted to extend it to all Jesuit priests. (Nonordained Jesuit brothers would still be excluded, as they now are.) This not only ignored Cardinal Villot's warning but set up a major confrontation with the papacy...
...spirit of poverty. But last week's vote alone makes the meeting a turning point for the Society of Jesus, and it presents Pope Paul with a delicate political problem. He has the power to reject any action of the General Congregation, including its decision on the fourth vow. But that would produce dangerous new tension between the Pope and the Jesuits who are sworn to serve...
...that has not happened yet. The Labor Department reported that industrial productivity declined by 2.7% last year; that is the first decline in manufacturing output per man-hour since the department began keeping such records in 1947. Corporate profits fell by 10% to 25% during last year's fourth quarter, and there will surely be further declines in 1975. Then, too, Treasury borrowing to finance the $34.7 billion federal deficit that the Administration expects this year (see THE NATION) could well cause many stresses and strains on financial markets...
...recent months the auto industry has been jolted by one of the worst sales collapses in its history. Falling production has idled one-fourth of its work force and led to a glut of 1.6 million unsold cars. To get sales rolling again, the industry is now taking two expensive gambles. By the end of this month it will have spent millions in a program of cash rebates - ranging from $200 to $600 on selected models - designed to lure reluctant buyers. For the longer term, Detroit is committing billions to an overdue drive aimed at developing and producing whole...
...companies are lavishly promoting their rebate programs. Chrysler, which is saddled with the heaviest backlog of unsold cars and was first to begin offering rebates, is spending one-fourth of its $50 million annual ad budget on a series of video spots featuring TV Pitchman Joe Garagiola in a carnival setting urging viewers to hurry, hurry, hurry to their nearest dealer. Lincoln-Mercury commercials have Green Bay Packer Coach Bart Starr sincerely touting Ford's $200 to $500 giveaways. Dealers round the country are jumping in with their own brands of salesmanship and showmanship-some of them bizarre...