Word: lasts
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Dates: during 1970-1979
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There are a few bright spots in the otherwise gloomy innovation picture. Last year's reduction in the capital gains tax from 49% to 28% resulted in a flood of new money looking for risky but promising investments. Boston's Route 128 complex of small, high-technology firms and California's Silicon Valley are awash with funds...
Even some of the "defensive research" is starting to pay off. Last week the 3M Co. introduced a lithograph printing plate that uses nonpolluting tap water instead of chemical developers to produce an image. General Motors' new zinc-nickel oxide battery pack-which can be completely recharged 300 times and will power a car for 100 miles-cost $33 million and took ten years to develop, but it has now opened up for the first time the possibility of a practical, mass-produced electric...
...small, but it is nimble. Last week American Motors Corp., which produces only 1.83% of the nation's cars, swung a deal with Renault, the French-owned automaker, that should help it cope with the expected demand for small, gas-stingy cars. AMC will get $150 million from Renault, $50 million in credits, and the rights to build the French company's newly designed front-wheel-drive car starting in 1982. The U.S. firm would thus have an entry to challenge General Motors' X-body compact cars, which are now being marketed, and the new models that...
...sleek white vessel nosed into Tokyo harbor last week, the Japanese markings were clearly visible on the superstructure. The crew of the 13,000-ton vessel was Japanese too, from the ship's captain to the deckhands. But emblazoned on the hull in red, white and blue letters was a most un-Japanese name: Boutique America. Below deck the contrast was even greater. The cargo area was an entire department store of U.S. consumer goods, ranging from golf clubs and fishing gear to pots and pans, jewelry, evening dresses and even slabs of sirloin steak. Displayed at specially constructed...
...businessmen and officials accustomed to a flood of manufactured goods coming out of Japan, the Japanese trade tour, organized by the Department of Commerce, is aptly timed. Last week on both sides of the Pacific, there were signs that the chill in Washington-Tokyo relations caused by the U.S.'s chronic and massive trade deficit with Japan was beginning to dissipate. Said Mike Mansfield, U.S. Ambassador to Japan: "It's been a good summer. I haven't heard the word protectionism for months." By contrast, he said, the previous two years had been "among the most difficult...