Word: nationalizing
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Dates: during 1950-1959
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...chaos of the cat-fights within the New Deal. Characteristic of these feuds is that between Hopkins and Ickes over the handling of relief--Hopkins' FERA and CWA (where the youngsters burdened with social consciences did battle) against PWA where Ickes took a cautious, yet constructive look at the nation's resources). Dean Acheson and Lewis Douglas (the forces of stabilization) are shown as they clashed with Morgenthau, Jesse Jones, a Cornell professor named George Warren, and, eventually, FDR (the forces of inflation). And there are even more squabbles, sometimes petty, sometimes vital: between Cordell Hull and Raymond Moley...
...Gentlemen, if you have any doubt about my ability to underwrite the financing, just call the Cleveland Trust Co. and ask whether my check for $20 million will be honored." Five years later, with Trumbull and other small companies as a base, he founded Republic Steel Corp. as the nation's third biggest producer. That year he also won control of Goodyear Tire & Rubber Co. Operating from his Cleveland-based Otis & Co., a securities firm, and a maze of holding companies, Eaton's deals were faster than the eye -or most financial experts-could follow. He helped topple...
...gloom of the '57-'58 recession, many a U.S. railroad sought merger partners to strengthen its condition. For 14 months the Pennsylvania and the New York Central, the nation's No. 1 and No. 2 roads, talked, thought and studied. Last week the Central flashed the red board. It announced that it was suspending the Pennsy merger talks until "three or four systems of nearly balanced economic strength in the East" could be studied. Conferences among smaller roads in Portland (Me.) and Cleveland (TIME, Dec. 1), said the Central's directors, indicate "a new climate among...
...interminable meetings, the litter of cigarette stubs, the hasty sandwich at the desk . . . the call from the White House, the postponed dinner, the neglected wife, the office lights burning late into the night, the lilacs hanging in fragrance above Georgetown gardens while men rebuilt the nation over long drinks...
...placed in the individual events. Dave Brahms was left behind in the Farrell 500, won by Basil Ince of Tufts, and dashman Larry Repsher finished last in his heat. The varsity field event men also fared badly against some of the best high jumpers and broad jumpers in the nation...