Word: mutuals
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Dates: during 1950-1959
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Although the Administration had worried through Congress a barely adequate $3,367,000,000 (about $500 million less than the Administration had originally requested) mutual-aid authorization bill, a whole new set of distress signals began flapping around the White House early in the week. In the legislative wonderland, "authorization" is a far cry from actual appropriations, and White House liaison men reported that a House appropriations subcommittee was about to slash foreign aid even below the authorization total. Ike was disturbed. "This is no lighthearted matter," he told associates. "The very integrity, the very safety of the U.S. rests...
...Cheapest We Spend." On Tuesday night he summoned a ten-man, bipartisan group of House and Senate leaders to his upstairs study for an after-dinner conference, with no aides present. The President insisted that the mutual-aid authorization bill represented a rock-bottom figure for U.S. security. Next day he went even farther. About a dozen White House newsmen, straggled into the office of Presidential Press Secretary Jim Hagerty for the routine afternoon briefing. "Guess we won't need this," said one, indicating his note paper. Replied Hagerty: "I haven't anything to say to you today...
...yeastless days of the 1957 budget spree, the House authorized only $3,116,833,000 for mutual security and insisted that the old year-to-year development programing be continued. The Senate, less obdurate, approved $3,617,333,000 for the entire program and upheld the President's three-year development-loan request. Last week's conference committee simply split the difference: it authorized a $3,366,000,000 program (still to come: the actual congressional appropriations) and settled for a two-year spread on development loans ($500 million the first year, $625 million the next). Commented...
...MUTUAL BROADCASTING, in the past a money-losing system, is being taken over from RKO Teleradio Pictures, Inc., a General Tire & Rubber Co. subsidiary, by a syndicate headed by Oilman Armand Hammer, who will become chairman, and Los Angeles Radio Executive Paul Roberts, who will become president. Group paid about $750,000 for network's good will and advertising contracts with 480 U.S., Canadian stations...
...should start looking for a man who did not know steel." Krupp found his man in 40-year-old Berthold Beitz, the breezy general director of the Iduna-Germania Insurance Co., who had boosted his company from 16th to third place in postwar Germany. Krupp met Beitz through a mutual friend, studied him carefully for months before finally asking him to become Krupp's general director. Said Beitz: "I thought the Krupps were trying to borrow some money from my company, and he was too shy to mention...