Word: importance
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Dates: during 1960-1969
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...Shipping Board, Paul toured the nation's shipyards, helping build morale among the workers. He also made some powerful friends, among them the National City Bank's Frank A. Vanderlip, who gave him a job in China after the war ended. Later, Paul started a rare-metals import business, bought a seat on the New York Stock Exchange, finally got into the oil business in a big way. Since his marriage, he has replaced his wife as board chairman of A. M. Kidder and, with Josephine, manages their vast business and philanthropic interests...
Since Detroit's compact cars first began pouring into U.S. streets two years ago, they have been knocking off their imported rivals as if they were so many Los Angeles pedestrians. Total U.S. sales of imported cars skidded from a record 614,000 in pre-compact 1959 to an anticipated 375,000 this year, and import dealers have been run out of business in droves. But last week there were signs that the compacts had done their worst. In September the foreign invaders took nearly 9% of the U.S. auto market-their highest share in 20 months...
...Eastern import, the Times will buck some sturdy Western papers, among them the San Francisco Chronicle-one of the fastest-growing dailies in the U.S.-and the big, powerful, conservative Los Angeles Times (circ. 549,000). But Los Angeles Times Publisher Norman Chandler sees little chance of collision with the invader: "I think it's more apt to be competitive with the Wall Street Journal." Estimated size of the Western Times: 32 pages, or about half the size of the New York paper. Estimated starting circulation: 100,000. Newsstand price...
Still another powerful spur, so the Administration believes, would be a radical reduction in tariffs and import quotas around the free world (see THE NATION). Most U.S. businessmen agree-but stress that tariff reduction has to be a two-way street. In a speech to the Foreign Trade convention. Henry Clay Alexander, chairman of the Morgan Guaranty Trust Co., declared: "We must drop our historic stance of giving a little more than we get. Without moving away from trade liberalism, we should be trying to get back some of the edge we have given away over the years...
...decided to apply for membership in the European Common Market, none of the Commonwealth nations was quite so dismayed as tiny New Zealand. The prospect that joining the Common Market might force the British to raise their tariffs on Commonwealth agricultural products spelled major trouble for New Zealanders, who import virtually all their manufactured goods from Britain, pay for them with exports of wool, meat and butter. (About 35% of the butter Britons eat comes from New Zealand.) Last week New Zealanders heard more cheering economic news: Prime Minister Keith Holyoake announced that a major natural-gas field had been...