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...evident. Buffeted by the Czech crisis and persistent clamor for an upward revaluation of the strong West German deutschmark (a move that was drawing money out of London), the pound had sunk to within a whisker of its post-devaluation low of $2.38¼ in foreign exchange centers. Harold Lever, financial secretary to the British Treasury and a key figure in selling the scheme abroad, noted: "If the agreement had not been achieved, there would have been a real danger of sudden and uncoordinated disintegration of the sterling area and a tremendous smashup of the international monetary system, including...

Author: /time Magazine | Title: Money: Shrinking Sterling's Role | 9/20/1968 | See Source »

...well, a smashing success. But the display, as Peter Townshend admits, "is an act, and it really is meaningless." It is also troublesome, since it requires them constantly to prowl the pawnshops in search of cheap replacements for broken instruments. "We started using it," says Townshend, "as a lever to get the audiences to come, and then, we hoped, dig the rest of the music." Now the audiences are coming. The Who rank close behind the Beatles and the Rolling Stones as one of England's leading rock groups, and they are rapidly winning frenzied admirers in America...

Author: /time Magazine | Title: Rock: The What and Why of The Who | 9/20/1968 | See Source »

...Washington, D.C. In his long career he has presided over more than $3 billion worth of construction. It began with the beaver board exuberance of the 1933 Chicago World's Fair. It led on to some of the largest and handsomest corporate structures anywhere, ranging from Manhattan's Lever House to San Francisco's Crown Zellerbach building. It raised Owings to national prominence as head of the presidential commission to replan the capital's Pennsylvania Avenue. Above all, Owings is engaged, along with many others, in a major effort to impose some direction, order and esthetic responsibility on the chaotic...

Author: /time Magazine | Title: Modern Living: To Cherish Rather than Destroy | 8/2/1968 | See Source »

...town that was constructed in complete secrecy, eventually grew to a population of 75,000. In its wake came jobs to design a hotel, airbases in Morocco, and three towns in Okinawa. Having achieved a reputation for bigness, S.O.M. earned a name for high-quality design with Manhattan's Lever House. Lever has since been copied so often?and so badly?that it has lost much of its impact. But 16 years ago, it astonished and delighted the U.S. In its use of sheer glass curtain walls, its spacious plaza (75% of the site), and bold positioning of horizontal slab...

Author: /time Magazine | Title: Modern Living: To Cherish Rather than Destroy | 8/2/1968 | See Source »

Senior designer and the man responsible for eight of the firm's 13 top A.I.A. awards is Gordon Bunshaft, 59, whom Owings calls "the great classicist." Shock-haired and explosive, a bon vivant and art lover, "Bun" set the firm on the high road to quality with Lever House, most recently has turned out the Hirshhorn Gallery for Washington, and the L.B.J. library for Austin, Texas. Notably outspoken, he has been known to tell a client: "Take it all or nothing." In Chicago, Walter Netsch, 48, is dubbed "the professor" by Owings. Research-oriented, he appeals especially to institutions, designed...

Author: /time Magazine | Title: Modern Living: To Cherish Rather than Destroy | 8/2/1968 | See Source »

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