Word: product
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Dates: during 1960-1969
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...Bronx? And look at his middle name-Brewster-isn't that pathetic?" Bingham indeed seemed out of place in The Bronx, which in considerable part is a low-income land of garment workers and small shopkeepers, of tenements and Bronx cheer. A slim, silver-haired, impeccably tailored product of Groton and Yale, Bingham has been for the past three years a U.S. representative to the United Nations...
...cycle, the Federal Reserve Board has sacrificed some of its independence, now meshes its policies more closely with the Administration. It has kept credit easy (average interest rate on business loans: 5%). The Administration has steadily increased federal spending, which now comes close to 20% of the gross national product. Washington has generally aimed to spend for the trend, stepping up the increases when private investment falters, and slowing them when business spending jumps-as it is doing now. The Government has given business more expansion capital by liberalizing depreciation allowances, putting through tax credits for industrial expansion, and passing...
...Mexico City, where the press of tourism and business requires the U.S. to maintain its second biggest embassy (after London), the new building is a functional, if spiritless, product of Texas Architects R. Max Brooks and Llewellyn Pitts. Basically it is a chunky, $5,000,000 rectangular marble box rising six stories above some elegant but unrelated granite vaultwork. Since much of Mexico City sits on what was a lake, the building must be broad-footed to avoid sinking into muddy subsoil. A Mexican engineer, Leonardo Zeevaert, designed a displacement foundation that is in effect a watertight ship...
...world's biggest company is a bundle of paradoxes wrapped in a string of superlatives. It makes a product that cannot be bought and lives on a commodity that cannot be seen. In a nation that idealizes competition, it has practically none. Unlike other corporate giants, it cannot set its own prices, which are carefully regulated not only by the Federal Government but by individual states. It has more direct contact with Americans than any other company, yet it often feels misunderstood. Few companies are more conservative; none are more creative. It has grown huge by paying attention...
...raised enough new capital ($26 billion) to buy up the gold reserves of the U.S., Britain and several European countries. With 733,000 workers, the company employs a labor force greater than the population of Boston; its annual wage bill of $4.7 billion exceeds the gross national product of Ireland and Israel combined. A.T.&T.'s 1963 revenues, which reached almost $10 billion, amounted to more than the combined incomes of 30 state governments and accounted for 1.7% of the gross national product...