Word: grossness
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Dates: during 1970-1979
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...isthmus from the Bogota government in 1903 and turned the rights to build the canal over to the U.S. Panama and its canal came to life together; without the canal, Panama could scarcely exist as a viable nation. Canal revenues account for some 25% of Panama's gross national product, 20% of its employment and almost 40% of its foreign exchange earnings. Thanks to the canal, Panamanians have one of the highest per capita incomes of any nation in Latin America: a still very modest $1,060. In one sense, Panamanians can be grateful that America decided to build...
...Nutrition Committee. Yet it is not at all surprising when one realizes that the February decision to abolish the Select Committee was a case of the Senate cutting off its nose to spite its face, one of the biggest mistakes it made this year, and most critically, a gross injustice to the poor people of this country made in the interests of "organizational efficiency...
...basic industry argument is that in spite of a nearly fivefold rise in world oil prices since 1972, oil-company profits last year accounted for a smaller share of gross revenues than they did before OPEC began jacking up the price (4.7%, v. 6.4% in 1972). After-tax profits are admittedly huge-$14.6 billion for the industry last year. But so is the industry's cost of earning those profits. Last year's industrywide return on investment of 9.6% was not nearly as good as the automakers' 14.6% and barely better than the 9.5% earned by chemical...
...production costs have jumped in ten years from $37 billion to almost $82 billion. A tractor that cost $9,000 in 1966 sells for $32,000 today; the diesel fuel to run it has climbed from 16.20 per gal. to 44.90. According to the Agriculture Department, though farmers' gross income is expected to surpass last year's record high of $103.5 billion, their net income will drop to an estimated $20.1 billion, from $22 billion a year ago and $33 billion in 1973, a peak year for farmers...
DIED. Mason Welch Gross, 66, former president of Rutgers University (1959-71); after a long illness; in Red Bank, N.J. A critic of U.S. involvement in Viet Nam, Gross maintained a quiet campus during the '60s era of protests...