Word: motoring
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...richest new rich, but most boast of how far they can go at the least expense. On the average, a camper's vacation only costs $40 for two weeks in the sun. One Frankfurt camper spent ten days in Italy. He brought along gas for his motor scooter, canned food, which he cooked over a portable stove with German canned heat, a tent, blankets, and other necessities for independent outdoor living. Cost of his trip: nothing. Said he: "The only thing I took from Italy was water from the public fountains...
There was also a summer sprinkling of dividend increases. Ford Motor Co. boosted the quarterly dividend from 60? to 75? and R. J. Reynolds Tobacco...
...Charles Bates ("Tex") Thornton, president of Beverly Hills Litton Industries, was an Army Air Corps colonel at 28, the planning director of Ford Motor Co. at 32, the operating boss of Hughes Air craft at 35. At 47, he is a hard-working executive worth $37 million in 443,024 shares of Litton stock. It all started when he quit Hughes in the exodus of brains (TIME, Oct. 5, 1953), started his own company, which is one of the fastest-grow ing electronics firms (1959 sales: $125 million), claims to be the biggest U.S. manufacturer of desk calculating machines...
...Ernest Robert Breech, 63, resigned as chairman of the board of the Ford Motor Co. after 14 years with the company, which he helped to turn from a moneyloser into the most profitable (on a per-share earnings basis) of the Big Three automakers. Taking over as board chairman for the time being is Ford President Henry Ford II, 42, who also continues as president. Breech, who will remain as a Ford director and chairman of the finance committee, has for three years wanted to "decelerate" at Ford after what he describes as "more than 40 years of an extremely...
...Little Grey. Kennedy was reassured about everything when he read the bandwagon headlines at the family summer home in Hyannisport, Mass., between leisurely strolls along the beach and turns in the family motor cruiser. "Boy, this is for me," he boomed over the phone to a friend. "Let those other guys run around out there." By Friday night it was time for him, too, to head "out there." As he left home, the Irish maids of wealthy Hyannisport neighbors lined up across the street to give him a sendoff. From Hyannis, he and Wife Jackie flew to New York...