Word: low-cost
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...Reconstruction Finance Corp. finally decided that its grandiose venture into prefabricated housing was a dismal flop. It began foreclosure proceedings against Lustron Corp., after sinking $37.5 million of public funds into Lustron's scheme to produce low-cost enameled-steel dwellings on an assembly line. Lustron actually produced only 2,200 houses, repaid not a cent in interest or principal on RFC's loan. By foreclosing, RFC admitted, it could not hope to recoup much more than 5? on the dollar...
...haunting RFC last week. Despite its disastrous experience with Lustron, where it poured a cool $37 million down a rathole (TIME, Sept. 12), RFC had lent about $2,400,000 to Reliance Homes of Lester, Pa. The money was' to be used to finance mass production of a low-cost, ribbed-aluminum, factory-built house. The three-bedroom house "package" came in seven sections, could be assembled on the site by a crane and five workmen (see cut) in 1½ hours. But Reliance found that the house, boxlike though it was, cost around $10,000 when erected near...
...Pompeii. Like other Italians, the pickpockets were getting ready for the tourists. Rome newspapers reported last week that they were brushing up their art at special schools, where artful dodgers of long practice instructed beginners on the finer points of fanning pockets painlessly. The unrationed Irish were plugging low-cost train and motor tours. In Portugal travelers could relax in one of Europe's few unscarred landscapes, and rub shoulders with out-of-season royalty at the gaming tables of Estoril, Lisbon's lush suburb. At Stockholm they could buy a 30-day, $995 "inside Scandinavia" tour, complete...
When the Communists set up low-cost lunch counters in factories, Catholic Action did the same-and tried to serve better food. When Communist women's organizations sent poor children to the country, Catholic Action went to work until its own kids-to-the-country program by far outdid the Reds'. Last year Catholic Action helped send over a million needy youngsters to summer camps...
...smashed a bottle of champagne against the Clipper America. Pan Am, which expects to put the clipper into service within a few weeks, hopes to get 19 more of the double-decked, 75-passenger monsters by late summer. With them, said Trippe, he will have "sufficient equipment to provide low-cost tourist-class service to Europe and to the Orient." Foreign governments willing, Trippe would cut transatlantic tourist rates to $225 one way and $405 round trip (present cost...