Word: millions
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Dates: during 1960-1969
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...Nixon-Agnew teams of Fuller & Smith & Ross (annual billings: $60 million) and Feeley & Wheeler ($6,000,000) have been prepping for the G.O.P. campaign since February. Even Third Party Candidate George Wallace has a long leg up. Birmingham's Luckie and Forney, which handled Lurleen Wallace's 1964 statehouse campaign, has worked up two 30-minute TV shows...
Though agencies often take on campaign work as much out of political conviction as for profit, the stakes are higher this year than ever before. National and local candidates will spend something like $50 million on radio and television advertising, compared with $34.5 million in 1964. Most of that will go for TV time, and even the networks are becoming defensive about the cost. Lately, they have been passing the word that candidates can get discounts of up to 50% on standard rates, which can run as high as $70,000 for a minute of prime time. There is only...
...long last, the British balance of trade deficit is showing substantial improvement. Almost everyone was pleasantly surprised last week when the Board of Trade announced the August totals of imports and exports. Exports rose $70 million to $1.33 billion. Imports, under the government's austerity program, have decreased from $1.58 bil lion to $1.56 billion since July. The deficit, therefore, was a mere $229 million, the best Britain has done in 14 months...
...past seven years, elusive Industrialist Howard Hughes and Trans World Airlines have been tangled in a complex legal battle. The conflict dates back to late 1960, when Hughes, in return for $165 million in loans to pay for TWA's first jets, had to surrender his 78.2% ownership of the airline to a voting trust controlled by the lending banks and insurance companies...
When Hughes objected to the way the new trustee-appointed management was running the company, TWA's new president, Charles Tillinghast Jr. (TIME cover, July 22, 1966), engaged in a bit of preemptive warfare. TWA hit Hughes with a suit that asked $115 million in damages (the amount was increased later), and demanded that Hughes be forced to divest himself of his holdings in the airline that he had built from a middling carrier in 1939 to a major airline. Hughes hit back with a countersuit charging that Tillinghast and the lenders were conspiring to dispossess...