Word: nationalizes
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Dates: during 1970-1979
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Here's how Brown and the other Ivy League squads shape up this time around: CORNELL: The Big Red won the national championship last year, is ranked first in the polls this year, and is riding a 20-game winning streak. The team was hurt by graduation, but you have to remember that since 1969, while the great players have come and gone, Cornell has gone 45-1 in the Ivy League, winning six of the last seven titles. The latest great to move on is National Player of the Year Mike French (65-40-105), who led the nation...
Faculty members in several of Harvard's graduate programs yesterday said that a ten per cent drop in applications to the Graduate School of Arts and Sciences was due to an acute nation-wide job shortage for Ph.D...
...first 21 months of recovery, until last December, business investment adjusted for inflation rose at a paltry average annual rate of 3%, only about a fifth the rate during the same stage of previous recoveries. The shortfall, figures J. Stanford Smith, chairman of International Paper Co., has cost the nation 400,000 jobs that would have been created if investment had risen as rapidly as in past rebounds. Walter Heller, a member of TIME'S Board of Economists, complains that businessmen seem to have no "animal spirit...
...result has been a kind of sexless recovery lacking passion, purpose and satisfaction. No one has got terribly excited about it, least of all the nation's investors. Last week they drove the Dow Jones Industrial Average down to 919, a 14-month low and a drop of 80 points since the start of the year; it rebounded to 927 on Friday. The market sagged despite bullish economic news. The nation's unemployment rate in March dropped to 7.3%, from February's 7.5%. The Commerce Department's index of leading indicators, a harbinger of growth, rose...
Still Jittery. The pace of business spending is quickening somewhat this year. The Commerce Department estimates that capital outlays will rise 11.7% in 1977, v. last year's 6.8%. Other projections are more optimistic. A survey of 307 companies by Merrill Lynch Economics, Inc., a subsidiary of the nation's largest stockbroker, shows them planning to increase spending an average 16.3%. But, discounting for inflation of 5% to 6%, even the most bullish forecasts would not return "real" business spending to its 1974 peak levels. Says Chase Econometrics Associates President Michael Evans...