Word: oneness
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Dates: during 1960-1969
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...stick, you're supposed to figure out what arrangement of pulleys, pegs, springs and strings is inside." The Moog Synthesizer is an electronic music maker that sells for anywhere from $3,500 to $8,000, depending on the model: "The synthesizers are built slowly, and before each one goes out, it is left on for a week and then dropped on the floor. This procedure helps to locate any construction flaws...
Died. Ferdinand Eberstadt, 79, Wall Street financier and one of the early masters of the corporate merger; of a heart attack; in Washington, D.C. Once described as "a man whose manner is pleasantly abrasive, like a rough towel after a cold shower," Eberstadt was an enormously successful investment banker (F. Eberstadt & Co., Inc.) and mutual-fund pioneer (Chemical Fund), but his greatest fame came from his ability to help arrange some of industry's biggest mergers over the years: Dodge and Chrysler, United Artists and Transamerica Corp., Douglas Aircraft and McDonnell Aircraft and, on the day of his death...
...special twist for Latin Americans and Canadians. For the first time, it set a limit on their immigration (120,000 a year), but it established no job-preference guides. The quota has been oversubscribed, and more than half the applicants are domestics and other unskilled workers. One result: Canadian firms and U.S. companies doing business in Canada can no longer transfer personnel to the U.S. for training or new assignments without a long wait. The Kennedy-Feighan bill would create a preference system favoring those with skills and management ability. This would put a tight limit on domestics and doubtless...
Fire Sale. For Storer, which acquired its Northeast stock from Hughes Tool Co. in 1965, the deal makes sense. True, Northwest will give only one share of its stock, worth about $35, for five Northeast shares, which traded at a total of almost $70 just before the announcement. Individual shareholders in Northeast will take a drubbing, and they have started to organize and protest; but even at the fire-sale price, Storer will get out with a profit. It has put $35 million into Northeast, and will receive Northwest stock currently worth around $38 million, plus a Northwest promise...
Britain, which depends almost wholly on Canadian nickel, has been hurt worst. The country faces what the London Times calls "one of the gravest raw materials crises since wartime controls." Stainless-steel prices have climbed 35% since August. Rolls-Royce is reclaiming the metal from scrapped engines, and some auto manufacturers will probably cut down on nickel-bearing chromium trim. Lord Melchett, head of the British Steel Corp., has appealed to the Soviets, who also produce nickel, to sell more...