Word: ownership
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Dates: during 1960-1969
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Nationalization as a cure-all for Britain's ills is out. What Wilson has in mind is far more selective and would extend state ownership to greener pastures. Pastures, in fact, may well be taken over by the government as part of its program to ease the housing shortage; Labor intends to buy idle building land, at market prices, for new state-owned housing projects. But its biggest prize would be the new products and whole new industries that science and socialism are to create. The state would also control the cadres of scientists and reserves of knowledge that...
...trading of its stock impossible. McCarthy concedes that this approval may take years; the exchange is slow to change and is, after all, controlled by many of the insiders who prefer to keep Wall Street a club. But the Midwest Stock Exchange already has opened the way for public ownership, and Merrill Lynch feels that the Securities and Exchange Commission's recent call for more public participation may help persuade the New York Exchange to follow suit. If it succeeds, Merrill Lynch will not only open a new field to public investment, but will be able...
...that the government refuses to export for fear of running dry. An even more jealously guarded national treasure is Franz Josef's family art collection (TIME, Dec. 12, 1960), which consists of 1,500 paintings valued at $150 million. It includes the only Leonardo da Vinci in private ownership, a lush portrait of a Florentine maiden called the Ginevra dei Benci, as well as 27 Rubens paintings that are valued at $11 million, and paintings by Van Dyck, Brueghel, Rembrandt and Botticelli. The public is allowed to see only 75 of Franz Josef's lesser pictures, which...
...democratize business," said Harvard-educated Gaston Azcarraga, 35, as he announced a $1,600,000 sale of stock in Fabricas Auto-Mex, which is 55% owned by his wealthy family and 33% by Chrysler, whose cars and trucks it assembles in Mexico. The sale fulfills government directives to spread ownership and to increase the "local content" of autos assembled in Mexico. Auto-Mex (15,308 vehicles a year) will use the money it takes in to build a $15 million engine plant at Toluca, 40 miles from Mexico City, from which Chryslers 60% made in Mexico will eventually emerge...
...trend to "hyphenated billing." "Why permit insight to be curtailed, sensitivity to be blunted, by deliberately plunging into the miasma of memos and meet ings?" he says. But he nevertheless owns a healthy 25% of Route 66 and insists that from now on he will hold out for 50% ownership of any show he writes. He installed a Dow-Jones ticker tape in the study of his home in Glendale to keep tab on his stock transactions. He agrees with his fellow apprentices that TV writers are grossly underpaid...