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...image in his party. The second was Attlee's in 1949, when none other than Harold Wilson, then head of the Board of Trade, took a major part in planning the devaluation. Properly done, a devaluation can turn a nation's trade deficit into a surplus practically overnight. It is not, however, a politician's panacea, since it means initially a sharp reduction in the standard of living of the devaluing nation's citizenry as manufacturers' profits decline and the cost of what a workingman buys goes...

Author: /time Magazine | Title: Britain: The Agony of the Pound | 11/24/1967 | See Source »

...both luck and organized labor on his side when election day rolled around. By chance, he had been in Tel Aviv during the six-day Arab-Israeli war last June; later he appeared in Rome when Philadelphia's Archbishop John Joseph Krol was installed as cardinal, thereby gaining overnight a statesmanlike image. At home, Big Jim threw his wholehearted support behind Police Commissioner Frank Rizzo's tough antiriot policies, thus winning the support of Philadelphia's working-class Italian population. Since the city suffered no riots last summer, Tate also kept a grip on the predominantly Democratic...

Author: /time Magazine | Title: The Cities: Big Labor, Big Assist | 11/17/1967 | See Source »

Ahmanson built Home into a powerhouse by nimble footwork and by devising new tricks to woo business. Before the rest of the industry awoke to the advantages of big-scale operation, he snapped up 18 other associations to form, almost overnight, the first major S. & L. chain. By offering to split profits with cash-shy builders, he soon grabbed a commanding share of the Southern California home-loan market...

Author: /time Magazine | Title: Entrepreneurs: Emperor in Private | 11/10/1967 | See Source »

...times to smash the base at Phuc Yen, northwest of Hanoi, turning the sky into a tapestry of fireballs. Later, Marine planes from Danang ventured farther north than they normally do to make an unusual night raid on Phuc Yen. The Communists filled in many of the bomb craters overnight, but U.S. planes were back the next day to chew out more. In two days, the attackers hit twelve of the until now untouchable MIGs, and wrecked the control tower, hangar and runway. By taking the wraps off Phuc Yen, the U.S. also virtually assured the exile of the North...

Author: /time Magazine | Title: The War: Into Exile | 11/3/1967 | See Source »

Though both camps kept mum on the details, few expected the latest ripples to end the six-week-old strike overnight. The blackout did seem to improve the temper of the affair, which has tended to be insulting. U.A.W. bargainers have been complaining that Ford Negotiator Sidney F. McKenna works "like a computer," like to call him the "McKennacal Man." The union's veteran negotiator, Gene Prato, ended one recent session by announcing, in four-letter terms, that he'd had more than enough of McKenna...

Author: /time Magazine | Title: Autos: Starting to Talk--& Sell | 10/20/1967 | See Source »

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