Word: jackpots
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Dates: during 1950-1959
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...time in the history of Nevada, the only state in the U.S. where gambling is legal in nearly all its forms (prohibited: dog racing, jai alai), an organized band had figured out a way to fulfill the fondest dream of hundreds of thousands of lemon-loathing laymen: hitting the jackpot on the slot machine, otherwise known as the one-armed bandit...
...Indian movie. With the exception of a few original moviemakers in Calcutta, where Director Satyajit Ray filmed the prizewinning Father Panchali (TIME, Oct. 20), the Indian movie business is likely to go on pandering to more undemanding millions than Hollywood ever envisioned. There is good reason: the occasional jackpot is full of jack indeed. For a borrowed $500,000 two years ago, Bombay Producer Mehboob Khan made a color film, Mother India (no kin to Katherine Mayo's book of the same name), which has since raked in $2,000,000. Mehboob's next step: getting Hollywood itself...
...desert reservation at the four corners where Utah, Arizona, Colorado and New Mexico meet. Disease-ridden, undernourished, ignorant, they lived in ramshackle hogans and crumbling shacks, contemplating a future as bleak as their past was romantic. Then, in 1956, big-time oil drillers on Navajo land hit the jackpot, and the dollars began gushing in. By last week, their numbers grown to 85,000 (v. 15,000 in 1868), their treasury to $60 million, their ancient weapons supplanted by grosses of ballpoint pens, lawyers, bookkeepers, geologists, oil consultants-even a pressagent-the busy, hard-driving Navajos were pounding their chests...
...Knerr, the hoop is the biggest thing yet. Eleven years ago they opened a shop with less than $1,000 cash and plans to make slingshots. Since then they have added three dozen other toys and gadgets to their production, now employ 670. Last year they hit their first jackpot with a lightweight plastic platter, the "frisbee." They have already sold about 2,000,000 Hula Hoops (93? wholesale, a 16% gross profit), hope to sell millions more before the craze dies...
Beginning a "major effort to encourage and support higher education in business," the Ford Foundation last week announced a grant of $1,100,000 to Harvard's famed Graduate School of Business Administration, and a jackpot of $1,375,000 to the University of Chicago's relatively little-known, expansion-bound School of Business. Harvard will use the money to expand its doctoral program; Chicago will divide $1,000,000 between two endowed professorships, spend the rest on fellowships, faculty grants...