Word: money
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Dates: during 1950-1959
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They had little money, but persuaded several companies to furnish them supplies in return for later testimonials. They called themselves "The 1959 Franco-American Students' Automobile Tour of Africa" ("What a mouthful," Donald wrote home. "The 'Franco-American' sounds like spaghetti, and the 'students' sounds academic, but it's the best we could come up with"). On July 4, they set forth in two small Citroëns loaded with camping gear...
...substantial food exporter, hardly able to feed itself. To make matters worse, inflation is a major threat, largely because of higher bonuses and wages that factory chiefs have been allowed to grant on their own initiative. Bungling Warsaw planners pegged meat prices so low that workers, with extra money to spend, ate more and more. At the same time, farmers' profit margins on livestock were reduced to the point where incentive to raise animals was almost destroyed. In 1959's second quarter, meat consumption increased 14% while production slumped 6.3% below 1958. Hastily, Gomulka raised meat prices...
...Suez invasion fiasco, Great Britain was faced with such a run on the pound sterling that it asked for and got $500 million in credit from the U.S. Treasury through the Export-Import Bank. But confidence in the pound was restored so quickly that only $250 million of the money was actually borrowed-on ?300 million security posted by Britain, to be repaid at 4.5% in ten installments from 1960 to 1965. Last week, with Britain's economic rebound having turned into a full-fledged boom, and the first favorable balance of trade with the U.S. since 1865 (TIME...
...Coty, Inc., took a roundhouse swing at his archrival, Revlon (sponsors of The $64,000 Question, co-sponsors of The $64,000 Challenge). Businessmen who profited from rigged shows, said Cortney, should be called to account by congressional committees. Their "illgotten gains" should be donated to charity as "conscience money." Businessmen, Cortney concluded, ought to keep their hands off entertainment...
...biggest afternoon paper in the Hearst chain, was selling out to Scripps-Howard's afternoon New York World-Telegram and Sun (circ. 450,486). The rumor gained currency in the light of two major Hearst and Scripps-Howard mergers: last year's merger of Hearst's money-losing International News Service with Scripps-Howard's United Press, and last summer's union of Hearst's unprofitable San Francisco evening paper, the Call-Bulletin, with Scripps-Howard's equally unprofitable News...