Word: much
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Dates: during 1960-1969
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...music more than once and thus have acquired a training in hearing musical structures." That kind of knowing audience has made possible a new mode of composition in which snippets from, say, the Baroque, French Impressionism and Viennese post-Romanticism are pasted into surrealistic aural collages that would lose much of their point for anyone who had not heard LPs of the originals. Perhaps the outstanding example of that style is Berio's four-movement Sinfonia, a great critical success last fall when premiered by the New York Philharmonic (TIME, Oct. 18). This week Sinfonia comes...
Unions usually get most of the blame for inflation in building costs-and much of the blame is merited. Labor has pressed the fragmented construction industry into huge pay boosts. In the twelve months ending last June, construction labor won wage and fringe gains averaging 10%-or 55? an hour. The unions have had powerful, if often unnoticed allies in the industrial corporations that order new factories built, and will pay almost anything to get them finished on time. Such corporations urge contractors to pay heavy overtime, and if the projects are struck, says George Cline Smith, a Manhattan construction...
...shipping industry. With its 37% stake in oil concessions in the ocean off the Indonesian island of Java, and a 68% stake in a concession off Sumatra, the company may yet become an important oil producer. But, as officials of San Francisco-based Natomas concede, no one knows how much oil will be found in either field...
...July low to stand as the bottom of the 1969 market predict that stock prices will move sideways for a long time until there are solid indications that inflation is being brought under control. Such prospects may be faintly reassuring to the average investor, but they do not promise much chance for speculators to recoup their mid-1969 losses quickly...
Even though they disclaim any thoughts of setting up a new class of conglomerates, insurers have so much cash to invest that their new tactics can have an enormous effect on the economy. Last year, life insurance companies alone had over $17 billion of new money to invest, or almost 14% of gross private investment. To investors who have been accustomed to getting only an interest return on loans, says Washington Economist Miles Colean, "an exposure to equities is like the taste of blood to a young lion." The insurance industry's new look may have an even greater...