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Some of the biggest profits gains came in the machinery industry-up 25% from the first quarter, largely as a result of heavier demand for coal-mining and farm equipment. Food processing enjoyed a 33% rise, mainly because lower costs for sugar, wheat and shortening fattened profit margins. Another pleasant surprise: General Motors reported net income up more than 400% above the first quarter, and 8.8% ahead of a year ago, on the strength of a long-awaited pickup in its car sales. American Motors also showed a healthy increase: net income rose to $10.1 million, v. a $47.8 million...

Author: /time Magazine | Title: Business: Earnings: Hitting Bottom | 8/18/1975 | See Source »

...started the summer of the Watergate hearings, 1973," Bennett told TIME Correspondent Mary Cronin. "It was a bad year for Broadway and not so hot for me. I hadn't danced in two years, and I was 25 pounds heavier. That summer I sat out in Bridgehampton, watching the hearings and thinking, 'God, truth! Would I like to see some truth in life. I would like to see some truth on the stage.' I wanted to believe in our country as a place where people trust again, and in a strange way I didn't want...

Author: /time Magazine | Title: Show Business: It Started with Watergate | 7/28/1975 | See Source »

...green morocco case). Isabel fell in love with Saudi Arabia: "Women may not be visible, but they are taken care of. Men do all the heavy things. There's none of that 'Carry your own bags, lady.' " Arnaud has probably never asked her to carry anything heavier than a silver-plated derrick. That is lucky, because Isabel is fashionably fragile. A friend says that Isabel has only one fault: she is seldom on time. This may be because Isabel, who finds tending her looks very demanding, has sudden, crippling doubts about her appearance. "If I am tired...

Author: /time Magazine | Title: People: Millionettes | 6/16/1975 | See Source »

...such programs, Okun advocates some less-than-sweeping changes in federal tax laws. "To me," he notes, "the purpose of heavier taxation at the top of the income and wealth scale is not to bring down the affluent, but to raise up the deprived." Thus unlike some egalitarians, he would not raise taxes on salary income, remove tax breaks for homeowners or even touch the investment tax credit for businesses. But, he points out, under present law wealthy taxpayers count only half their capital gains in calculating their taxable income; Okun would reduce or even eliminate that discount. He also...

Author: /time Magazine | Title: THEORY: Efficient Equality | 6/9/1975 | See Source »

...keep their parents at home generally feel remorse about what Paul Kirschner of the University of Southern California calls the "battered senior syndrome," which involves caring for aged parents but excluding them from many family activities. Those who place their parents in nursing homes often feel a still heavier burden of guilt for "abandoning" the old folks...

Author: /time Magazine | Title: New Outlook for the Aged | 6/2/1975 | See Source »

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