Word: nde
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Dates: during 1960-1969
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...Wernher von Braun, 57, director of the Marshall Spaceflight Center in Huntsville, Ala. Transported to the U.S. by American intelligence officials in 1945, along with 126 other German scientists who had been working on the V-2 rocket at the Baltic base of Peenemünde, Von Braun has directed development of rocket-launch vehicles from the earliest Redstone. Von Braun helped develop the ablative heat shield, which dissipates the searing heat of reentry by flaking off in harmless fiery pieces. His Huntsville group can also claim credit for what has become known in the space agency as "cluster...
Hopeful Gleams. Velasco may well have found foreign embroilments a relief from domestic affairs. After overturning the Fernando Belaúnde Terry government last year, the junta found the treasury drained by Belaúnde's freehanded spending and borrowing. Currently, construction is down 40% from 18 months ago, and sales of dry goods, medicines, cars and appliances have dropped 25%. Unemployment has risen to 10% of the working force. Velasco has resorted to ruling by decree, and hopes to lure investment through a policy of incentives and the easing of bank credit rates...
...conflict between Peru and the U.S. revolves around a Standard Oil of New Jersey subsidiary, the International Petroleum Co., which has been pumping oil out of Peruvian soil since 1924. Last October, only six days after they had overthrown President Fernando Belaúnde, Peru's new military masters seized IPC's property. Under the 1962 Hickenlooper Amendment, the U.S. is obliged to halt foreign aid and preferential-trade deals with any country that expropriates American property without making adequate compensation. Under Hickenlooper, the cutoff must take place six months after the seizure unless "meaningful" negotiations...
...managed to extend the deadline for ending aid by five days. General Velasco could release the U.S. from its duty by agreeing to a negotiated settlement, but he can hardly back down under U.S. pressure without destroying his own reputation. It was largely because President Belaúnde had failed to crack down on IPC, and thus defy the U.S., that Velasco was able to whip up popular support for his military takeover. The support continues, as far as Velasco's expropriation of IPC is concerned. But many Peruvians are finally realizing that the U.S. is also serious...
Peruvians continued to be rankled because the Yanqui company owned the fields instead of merely operating them under a government concession. In his 1963 presidential campaign, Belaúnde promised to expropriate the fields but backed down after his victory. A year ago, his government began claiming that IPC owed $144 million in back taxes, the total amount of profits that the company earned in Peru during the previous 15 years. Then the two sides struck the August compromise: Peru would take ownership of the fields, but IPC would help operate them under contract. Simultaneously, the government scrubbed...