Word: hebert
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Dates: during 1950-1959
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...Louisiana's Democratic Representative F. Edward Hebert, the subcommittee chairman, brought the room to life with a thwack of his gavel. "Gentlemen," cried Hebert excitedly, "the President has just announced his candidacy for re-election...
...news was exciting-but how had Hebert known? No one had entered the room. No notes had been passed. The telephone had remained silent. In his 15 years of House service, Ed Hebert had never shown signs of clairvoyance. Had he now become magically gifted...
...aircraft industry gets by far the biggest slice of the defense dollar-and no industry gets, in turn, a more careful check from Congress. The allegation before the current House investigation (headed by Louisiana's F. Edward Hebert) is that the industry's profits are too big. The manufacturers pose a larger question: Are profits big enough to let the industry do the vital defense...
...result, North American and other planemakers currently lease much of their expanded plant space from the U.S. Government, use it on a rent-free basis. They have been criticized by the Hebert committee for this. But planemakers have never had enough money to expand as fast as the Pentagon wants during an emergency, would go broke trying to build the plants themselves. Furthermore, military contracts are precarious; cancellations can make a huge, expensive plant useless to a manufacturer...
...fair profit are vague, sometimes unfair. While most businessmen gauge profits in relation to sales, the board puts heavy weight on a company's net worth, along with such other factors as character of the business, extent of assumed risk and subcontracts, and inventive contribution. Even the Hebert committee recognizes that the renegotiation law is too vague...