Word: pasts
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Dates: during 1970-1979
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...delivered another shock: Kosner's replacement would be Lester Bernstein, 58, a vice president for corporate communications at RCA who had left Newsweek in 1972 after being passed over for the editor's job. It was the fourth change in top editors at the magazine in the past ten years...
...minorities. Though Weber won in two lower courts, he lost in the high court. By a 5-to-2 vote, the justices ruled that employers can indeed give blacks special preference for jobs that were traditionally all white. Whether or not it has had discriminatory job practices in the past, a company can use affirmative-action programs to remedy "manifest racial imbalance" in employment without fear of being challenged for its efforts in the courts...
Brennan did not address the issue, but it is clear that the EEOC can obtain court-ordered affirmative action, including quotas, if it proves past discrimination. Most affirmative-action programs exist because employers cannot get federal contracts without them. Last week the Government said it would no longer buy from Uniroyal, charging that the company had balked at setting up an affirmative-action program for women. Uniroyal is only the 21st company to be so penalized in 15 years, but it is the biggest-with $35 million in outstanding Government contracts...
...like almost everything else, are not what they used to be. A study released last week by U.S. Trust, an old-line Manhattan firm that specializes in handling O.P.M. (other people's money), reports that the nation's millionaire population, helped along by inflation, has in the past decade been growing at an average annual rate of 14%. Today, the company calculates, precisely 519,834 Americans-or about one in every 424 citizens-have a net worth of $1 million or more. In 1972, by contrast, the Government count of millionaires was "only...
...Trust, which has been keeping tabs on the fat cat population for marketing purposes for the past decade, reached its conclusions on the basis of a computer model that it developed; its calculations take into account assessments of population growth, earnings trends and money-market performance. According to Vice President Rodney Woods, the difference between today's millionaires and those of the past goes beyond numbers. Says he: "Historically the greatest proportion of millionaires had inherited wealth. In recent years, that proportion has sharply diminished...