Word: glut
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Dates: during 1960-1969
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While Government and industry groped for ways to alleviate America's aerial arteriosclerosis, the traffic jam in the skies shifted from acute to chronic. The glut that has all but congealed the New York City metropolitan area's "Bird Cage"-Kennedy, La Guardia and Newark airports-now spreads confusion across the country and abroad, shredding connecting schedules in Los Angeles and squeezing service in Miami. Fortnight ago, "Black Friday" choked the Golden Triangle between New York City, Chicago and Washington with 2,079 delays. Black Friday now is every day. The situation cannot possibly get better before...
...proposal to end rush hour itself by changing schedules. By week's end the Civil Aeronautics Board authorized the talks. Airliners soon may be diverted at peak hours from congested airports, and passengers on peak-hour flights may have to pay premium rates. The industry blames the glut partly on private planes, but barring them from major airports would hardly dent the crush. At Kennedy, they make an estimated 10% of the flights. New York City's three major terminals at last count had 162 scheduled flights in and out bet veen 5 p.m. and 6 p.m. each...
...Service, which will eventually allow brokers to leave all stocks traded among themselves in a central clearinghouse, computerized certificates should go a long way toward streamlining back-office operations on Wall Street. But skeptics wonder whether the new measures may not be too late. Due to the paper work glut, brokers are often unable to deliver securities within the legal five-business-day period. Though such "fails" have not yet been a serious problem, technically they now represent a $3.24 billion debt owed by firms caught short of certificates. The situation could become critical if the market were to drop...
...York Stock Exchange last week phased into operation a sophisticated computerized system that it hopes will eventually eliminate much of the physical handling of stock certificates. Once in full swing, the scheme should go a long way toward reducing the glut of paper work now snarling Wall Street...
...courses in the General Catalogue, for all the extra-curricular activities, there is a surprising lack of genuine diversity in the education Harvard has to offer its students. Many disciplines are represented in the Faculty, and there's a shopping market glut of courses to choose from each term. But essentially, the courses and the Faculty are frighteningly alike; there is an assumption common to both that Harvard students come to their courses already excited and motivated. The role of the professor is simply to present the pertinent body of information--rarely is there an attempt to stimulate or inspire...