Word: lowe
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Dates: during 1960-1969
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Gloomy words from Rocketeer Dr. Wernher von Braun, 55, darkened the tenth-anniversary celebration of the first U.S. satellite, the 31-lb. Explorer 1. Budget cuts, warned Von Braun at a National Press Club luncheon, were "dismantling the high competence" of the U.S. space effort and supplying funds "too low to maintain progress and momentum." All the same, noted Dr. William H. Pickering, 57, head of Caltech's Jet Propulsion Laboratory, it has been a zingy decade-notably in the space race with Russia. Pickering's box score: 500 satellites, 13 successful moon missions, 2,000 hours...
...broader Standard & Poor index of 500 of the 1,255 common stocks on the New York Exchange rose 20% last year, and even that figure tells only a modest part of the story. Shares on the American Exchange jumped 82% in 1967, and the Standard & Poor average of 20 low-priced issues climbed 87%. While few experts expect such phenomenal growth to continue, in an expansive economy the long-term trend remains bullish...
Analysts are most concerned about a stock's price-earnings ratio-that is, its price relative to earnings per share expected in the current year. Professionals tend to assign rather low P-E ratios to companies with profits that are rising only as fast as the U.S. economy's gross national product. Thus, the Dow-Jones industrials now have P-E ratios averaging less than 17 to 1, down from 21 to 1 just before the 1962 market break. Analysts give much more generous P-Es-50 to 1, or more-to companies with profits that rise faster...
Russian in Parma. At that low point, the board of education offered the job of superintendent to Paul Briggs. Son of a small-town baker, he had worked his way through Western Michigan University as a part-time pastry chef, taught in high schools for nine years before being named principal and then superintendent of the Bay City, Mich., schools. In 1957, Briggs was named superintendent of schools in Parma, Ohio, where he introduced one of the country's first closed-circuit educational TV networks and created a Russian language program that, he was able to boast, had more...
...income climbed from $33,371,000 to $40,658,000 on sales of $1.02 billion. Eastern's profits went from $14,713,000 to $24,114,000. Despite the apparent improvement, though, most airlines are suffering because of huge outlays for new planes, rising labor costs and the low profitability of their myriad fare-discount plans...