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...many economists and businessmen misjudged the economy at the beginning of 1960. They predicted such a state of economic euphoria that the aches and pains that appeared were magnified. "The glowing predictions I made a year ago were certainly wide of the mark," said Joseph L. Block, chairman of Inland Steel Co. "If I were a member of a big-league ball team, I would either be benched or sent back to the minors." The glowing predictions-and the dimmer actualities that followed-added up to a lesson. They made the U.S. see clearly that no matter what...

Author: /time Magazine | Title: Business In I960: Tough Prosperity | 1/6/1961 | See Source »

...built in 1855-although some historians insist that this was the original ship rebuilt and restored. Another Constellation, scheduled to be a battle cruiser, was scrapped after her keel was laid, as a result of the Washington Naval Treaty of 1922. * On March 19, 1945, in the Inland Sea, the flag carrier Franklin was hit by two Japanese bombs, engulfed in flames and explosions. But the crewmen extinguished the fires in five hours, and the ship-in World War II the most severely damaged carrier to be saved-limped 12,000 miles back to New York, with...

Author: /time Magazine | Title: Disasters: The 43rd Fire | 1/2/1961 | See Source »

...particularly to the U.S. Air Force, which is building a network of underground Atlas and Titan rocket-launching sites in the arid inland wastes of New Mexico, South Dakota and Oklahoma. In these areas available water is apt to be brackish, highly contaminated with minerals and salts that make it unpleasant and harmful for men and missiles alike. In addition to satisfying the need of parched humans, the bases must also slake the huge thirst of the rocket complex: thousands of gallons of water are needed to cool intricate machinery and to air-condition control rooms...

Author: /time Magazine | Title: Science: Watering Rocket Bases | 12/19/1960 | See Source »

...preparation for the 1964 Olympic Games and have launched a safety drive against Tokyo's kamikaze taxicabs. Some $400 million will be spent to improve Japan's lamentable highways, and brand-new cruise ship's with air-conditioned cabins cleave the smooth waters of the enchanting Inland Sea with its 700 islands, seemingly sprung straight out of Japanese paintings...

Author: /time Magazine | Title: HONG KONG: The Fragrant Harbor | 11/21/1960 | See Source »

...share, down from 62? in the second quarter, bringing nine-month earnings to $1.96 per share v. $1.75 per share last year. Bethlehem Chairman A. B. Homer assured shareholders that by year's end, earnings will be enough to cover the $2.40 per share annual dividends. Inland earned 28? against 82? in the second quarter, putting nine-month earnings at $2.17 per share compared with...

Author: /time Magazine | Title: Business: The Box Score | 11/7/1960 | See Source »

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