Word: money
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Dates: during 1960-1969
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Earnings this year have been assaulted by the 10% tax surcharge-an essentially Keynesian measure designed to retard demand and inflation as well as by the rising costs of labor, money and materials. Even so, profits generally reached new peaks in the first quarter. The Wall Street Journal, in a survey of 519 firms, found a 7.8% increase in aftertax profits-just about the same as in the last quarter...
...Germans are talking about revaluing by 8% to 10% if the franc is dropped by the same amount. Any major increase in value of European money would tend to help the U.S. balance of trade-which posted a $215 million surplus in March-by increasing the price of imports. Without revaluation, it will be a long, uneasy summer in the foreign exchange markets...
...prince in name and by no means a pauper-gave up his throne last week. After his abdication, the Trustbusters said that they would nonetheless try to stop General from taking over the empire. But Prince was gone, having retreated to clip his coupons and count all his money. Moral: Uneasy lies the head...
...fourth biggest automaker (after the U.S. Big Three) rose 25%, to nearly $3 billion-and they are running 12% above that rate so far this year. The company's profits advanced 21% last year, to $85 million. Still, VW faces special perils. Revaluation of the German mark (see Money, page 90) could cut into exports by raising prices in foreign countries, where the company does more than three-quarters of its business. VW is also being tail-gated by hustling Japanese automakers. Last year, Japanese competition in Australia forced VW to close down assembly lines that had once produced...
...meanwhile had managed the rightest kind of job as an assistant to Fashion Photographer Melvin Sokolsky. "He'd seen me at Bazaar," she recalls, "and offered me $100 a week, twice what I was making. I was married then, and needed the money. Before I left, Diana Vreeland warned me, 'You can't leave now. You don't know enough.' " But Ali learns quickly, and she soon made herself a permanent studio fixture. She did everything: made up the models, adjusted the lighting, hunted for an endless variety of photographer's props all over...