Word: producting
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Dates: during 1970-1979
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...reason for Peking's retreat to more modest goals became clear during the two-week session of the congress, when precise statistics on the Chinese economy were released for the first time since 1959. They showed that the country had a gross national product of $360 billion in 1978, compared with $2.107 trillion for the U.S. The average Chinese buys only $6 worth of goods per month, excluding food. Out of a population of an estimated 960 million, only about 95 million people receive regular wages. For the others, who are paid partly in rice and other grains, Chen...
...crash in May of the American Airlines DC-10 in Chicago, taking the lives of 275 people in the worst U.S. air disaster. Lloyd's underwriters hold 16.5% of the coverage of that flight, which could cost them many millions. If the plane is found defective, the product liability claims against the builder, McDonnell Douglas, would be even larger. Lloyd's underwriters carry much of that insurance...
When crude petroleum enters a refinery, the buyer records its price. To that figure the refiner is allowed to add a margin varying in size to cover processing costs and profit. Until this year, the price of a refiner's product was based on how large a percentage of a barrel of crude it represented. That was considered unfair in the case of gasoline, which costs more to produce than most other oil products. So the refiner was allowed to increase his margin on gasoline by an average...
...years at Newsweek, first as national affairs editor and later as managing editor. Before that he had spent five years as an NBC public affairs executive and ten years as a writer, correspondent and editor at TIME. At Newsweek he is expected to steady both the editorial product and declining office morale. In a chatty, upbeat memo to the staff, he promised "some changes in tone, emphasis and operating style." Given his age and Graham's habit of replacing executives unexpectedly, Bernstein may turn out to be a caretaker appointee-"like bringing Bob Lemon in to replace Billy Martin...
During his 20 years in the House of Commons he had revived Britain's once great Liberal Party as a potent force in British politics. As a product of Eton and Oxford, and the husband of the former Countess of Harewood, he was an important member of that peculiarly British Institution, The Establishment, an exclusive "old boy" network that is still one of the keys to power and influence in Great Britain...