Word: jersey
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Dates: during 1950-1959
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...aircraft. Shortly after 12:30 a.m., the routine broke: an LAV (for Linea Aeropostal Venezolana) Super Constellation, droning southward from Idlewild across the black Atlantic toward Caracas, was in trouble. Her position: 38° 10 min. north, 72° 08 min. west (160 miles southeast of the New Jersey coast). "Returning direct to New York," said the crisp message. "Unable to maintain 10,000 ft." The trouble was spelled out: the Constellation's left inboard engine was out of control, could conceivably shake the engine loose from its mount. Veteran Pilot Luis F. Plata, 39, had tried vainly...
While the insurance industry argued, the Securities & Exchange Commission last week joined the fracas, seeking to compel the only company now selling the new annuities to the general public to register with the SEC. Three days later, top insurance men thronged a hearing room in the New Jersey state senate and wrangled over three bills which have already received state assembly approval to legalize sale of variable annuities by insurance companies in New Jersey...
Strongest proponent of the variable annuity is President Carrol Shanks of Prudential Insurance, second largest U.S. insurance company (which is incorporated in New Jersey). He argued that conventional, old-line annuities have failed to do their job in the past quarter-century, now attract few purchasers. The reason, other supporters point out, is that a purchaser of a guaranteed annuity in 1932 today receives only half its face value in purchasing power. On the other hand, had he been able to buy a variable annuity, he would now receive 245% of the initial amount, more than enough to compensate...
Prudential is going ahead with its variable annuity plans in the expectation that the New Jersey legislature will approve the required legislation. Even a court ruling putting variable annuities under the SEC, said Shanks, "would not alter our plans for this new field. We would then comply with SEC requirements just as we now comply with all laws to which we are subject." According to an Indiana University survey, 95 other life-insurance companies are also preparing to issue variable annuities in the next year...
Producer of these two recordings was Columbia's new President Goddard Lieberson (TIME, Oct. u, 1954). Sitting behind the control-room glass in cotton jersey and slacks, he rolled in his chair, clutched his brow, his breast, his colleagues' arms, while demanding one take after another. His problem with Fella was simplified by the fact that the nearly continual music supplied almost all the required atmosphere, from the rowdy, Italianate folk-type songs to the entr'acte hit, Standing on the Corner, to the show's one deeply felt song, Warm All Over. Even so, there...