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Company executives counterpunched with arguments that the reported gains were misleadingly big and that profits really have been rising too slowly. Said R. Heath Larry, president of the National Association of Manufacturers: "We will not become the scapegoat of the Administration. High profits are not inflationary; they promote new technology and investment, reduce pressure on the credit market and lift corporate taxes. You have to feed the cow instead of kicking it if you want the milk...

Author: /time Magazine | Title: Business: Storm over Surging Profits | 4/2/1979 | See Source »

DIED. Reginald Maudling, 61, prominent member of the British Conservative Party and former Chancellor of the Exchequer (1962-64); of kidney failure; in London. An economic pragmatist as Chancellor, Maudling was touted often as a future Prime Minister, but in 1965 lost the Tory leadership election to Edward Heath by 17 out of nearly 300 votes cast...

Author: /time Magazine | Title: Milestones, Feb. 26, 1979 | 2/26/1979 | See Source »

...raise exceeded his guideline. But it seemed doubtful that the workers would accept the offer. Unless there was an unexpected cooling of Britain's latest bout of union fever, Callaghan's government could be doomed to the same fate that befell the Conservative government of Edward Heath in 1974. Because Heath was unable to settle a strike by the militant mineworkers' union, his party lost its majority in a general election, and he was ultimately forced to resign...

Author: /time Magazine | Title: BRITAIN: Union Fever | 1/29/1979 | See Source »

Buried Child. Sam Shepard's saga of primal fears and lusts is shot through with sunbursts of surreal humor. As the dying patriarch, Richard Hamilton casts the blistered shadow of Lear on a blasted prairie heath...

Author: /time Magazine | Title: Theater: YEAR'S BEST | 1/1/1979 | See Source »

...that crazy. Shepard links his characters, however kinky, to the blood consciousness of D. H. Lawrence, to mythic forces that defy the intellect yet stir primal fears and lusts. The cast is exemplary, paced by Hamilton's Dodge, a blistered shadow of Lear on a parched prairie heath.-T.E.K...

Author: /time Magazine | Title: Theater: Crazy Farm | 12/18/1978 | See Source »

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