Word: prosperities
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...from Japan. It disclosed agreement in principle on a pact that will give Korean courts some jurisdiction over American servicemen and American civilians employed by the military. And it reminded the world that the two Presidents had in common the burning desire to defeat Communist aggression and see Asia prosper...
Quick Turn. Beirut's bankers prosper partly because they understand the unique needs and foibles of people for whom banking is a fresh experience. Many lavish spenders tell hoteliers and shopkeepers to send their bills directly to their banks, consider it an insult to have to carry credit cards to prove that they are good risks. The beauteous wife of Kuwait Millionaire Bader Almulla scorns checks, prefers to scribble notes on her calling cards ("Give this person $5,000"), which her banker is pleased to honor...
...secret of Small Steel's health and survival. A few firms, such as Detroit Steel and Granite City Steel, turn out a fairly broad family of products but concentrate on selling to close-to-home markets, thus paring freight rates. Most of the smaller companies, however, prosper by producing just a few kinds of steel. By specializing in stainless steel, which sells for about seven times as much as basic grades, Pittsburgh's highly profitable Allegheny Ludlum has become the industry's ninth largest seller (1963 sales: $259 million), although it is only about 20th in terms...
Embarrassing Support. Tàpies, now 40, and many others have since lived with a government that likes them more than they wish to be liked. They prosper in embarrassment; the freedom that they insisted upon is suddenly an asset to Franco. This uneasy partnership makes for strange ironies. When the government four months ago sent a striking show of new painting to the Spanish pavilion at the World's Fair, Tàpies and one of his top followers, Modest Cuixart, would not let their work be included - even though Picasso, out of a growing nostalgia for Spain...
Some economists like to compare the current advance to a rising tide-it lifts everyone's boat, enabling big and small business alike to prosper. The tide is still coming in strong: the Federal Reserve Board last week released record industrial production figures for June, and President Johnson personally announced "notable advances" for the second quarter in gross national product (a new record), nonfarm employment (another new record), and personal income. But the tide does not seem to be lifting everyone equally, and the Senate Select Committee on Small Business has just produced another, less pleasant nautical metaphor...