Word: gaps
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Dates: during 1970-1979
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...broadcasts. Radio Caroline, which was named by her Irish owner Ronan O'Rahilly (pronounced O'Reilly) after John F. Kennedy's daughter, has now been reduced to one ship, a rusty old coastal vessel called Mi Amigo. Just before Christmas, she anchored in the 300-yd. gap between Veronica and Northsea, five miles off the coast of The Netherlands, and started competing with them for Dutch listeners...
...size of the gap between rich and poor has been something less than a flaming issue simply because all levels of Americans are better off now than they ever have been. Even discounting for the moth holes left in everyone's dollar by inflation, real buying power for the average factory worker with three dependents has increased about 11% in the past decade and more than 29% since World War II. President Nixon argued during the campaign that "the people on welfare in America would be rich in most of the nations of the world today," and his line...
Some economists argue, moreover, that the income gap between broom closet and executive suite should continue to yawn wide, for everybody's sake. "I don't think you can narrow the income gap without reducing the nation's real income growth," says Alan Greenspan, a member of TIME'S Board of Economists. "You would get less effort out of a whole group of people who are striving to get rich. Our whole incentive structure depends on having income increments...
...Grumman been the only beneficiary of the Navy's bankroll. Over the past year the Navy has shelled out about $1.7 million to a small Long Island subcontractor named Gap Instrument Inc., by purchasing new issues of the company's preferred stock. The Navy is now the single largest stockholder in the company, but its shares appear for the moment to be almost worthless; they carry no voting power and cannot be resold commercially...
...Gap is supposed to begin buying back the stock with its profits in 1976. However, since the company has lost money in all but one of the past four years, the Navy's chances for a quick recovery seem less than certain...