Word: longs
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Dates: during 1950-1959
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...responsible economist predicts a serious or sustained U.S. trade imbalance ahead. But no one foresees the big, fat trade surpluses that the U.S. long enjoyed -$6.5 billion as recently as 1957. At best, says Under Secretary of State C. Douglas Dillon, exports will rise $1 billion in the next year, led by lower-priced U.S. cotton and the new jets. These new realities of world trade have moved the Administration to take a sterner view of foreign nations that still jealously preserve high tariffs and import quotas against dollar goods long after the need is past. At next month...
RAIL STRIKE INSURANCE pact is virtually certain of adoption by major railroad managements in preparation for negotiating the new long-term contracts in autumn. Plan is similar in principle to airlines' strike pact (TIME, Nov. 10), would insure strikebound railroads for up to $600,000 per day to cover all fixed operating expenses...
What has enabled Price to transform the prefab is intensive automation of his factories. IBM machines control quality and monitor shipments. Nailing machines pound nails into interior and exterior sections with a single bang, and machines automatically cut, sand and paint every section. Overhead cranes move parts down a long assembly line, hoist them onto one of Price's fleet of 476 trucks which take on a house every seven minutes...
...Japanese automaker, Toyota Motor Co. (fiscal 1959 sales: $159 million), whose Toyopet was once the tinny target of G.I. gibes ("If you strip off the door lining, you can read the beer-can labels"), streamlined Toyopet to resemble in performance and size a compact U.S. car (14⅓ ft. long v. Rambler's 14½ ft.). The four-door, six-passenger Toyopet has a 65-h.p. motor, does more than 30 miles on a gallon of gas, sells for $2,239 at port of entry...
...State Department have not always been so alert to protect the interests of U.S. flag lines. When Great Britain and the U.S. laid down the basic postwar air route pattern in Bermuda in 1946, the U.S. was the only nation equipped with planes to operate long-distance service. It campaigned for a free competition agreement, but the plane-short British forced a compromise that provided for an equitable exchange of traffic between nations signing a bilateral pact. Since then the U.S. has often ignored breaches by foreign airlines, drawn criticism from U.S. carriers for giving out fat new routes without...