Word: oiling
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Dates: during 1950-1959
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...pour a little soothing oil on American heartburn over the failure of your Sputnik? Look around the free world and take stock of what your first Sputnik-called by some Marshall Aid-did for mankind, and take heart. A nation capable of such deeds can laugh off its first failures...
Nuts & Jolts. In the Docking bid were such jolts as a 1? reduction in gasoline taxes (to be offset by a truck ton-mile tax), which pleased the oil companies, the railroads and plain, ordinary car owners; a 5% salary increase for state college and university teachers; slightly bigger corporation taxes, which outraged business but pleased Kansas' growing labor unions. Chuckles old Banker Docking: "This is one of those bankers' Machiavellian ideas. I dreamed up the gas tax-reduction plan all by myself, and later some of my people tried to talk me out of it. I said...
PENN-TEXAS CORP. is dickering to sell its 46% stock interest in Fairbanks, Morse (almost all of which is pledged against short-term loans) to Rockwell Spring & Axle Co. Cash-shy Penn-Texas also sold its fourth subsidiary in two months, Tex-Penn Oil, to Judarth Corp...
Today Aeroflot is actually Soviet Russia's civil air ministry. Besides hauling passengers and freight, it carries out a massive program of crop dusting and sowing; it runs meteorological and oil-pipeline surveys, organizes flying clubs, maintains all nonmilitary airports and directs two colleges which train pilots and ground technicians. It is difficult to tell where the Red air force leaves off and Aeroflot begins. Bossing it is onetime Air Force Commander in Chief (1950-57) Chief Air Marshal Pavel Zhigarev, 60. veteran pilot and bomber expert who got the airline job a year...
...Albert L. Nickerson, 47, Socony Mobil Oil Co. president since 1955, will become chief executive officer next month when Board Chairman B. (for Benjamin) Brewster Jennings, 59, retires after 37 years with the company. Nickerson, a New Englander who looks like Cinemactor Randolph Scott, came up fast. Graduating from Harvard in 1933, he joined Socony as a service-station attendant, moved up to become a director within 13 years. Despite the current domestic oil glut, he has spoken out strongly for continued imports on the ground that high-cost U.S. producers will be unable to match soaring future demand...