Word: scandal
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Dates: during 1970-1979
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...endless succession of collapsing cabinets; in the face of waves of strikes and political violence, the DC has been unable to enact badly needed social reforms. The lira has fallen drastically and economic growth has come to a standstill. DC rule has been marked by widespread corruption and scandal. The recent charge that party leaders accepted payoffs from the Lockheed Aircraft Corporation is a stellar example. Furthermore, their conservative position on social issues has become increasingly unpopular with the electorate, sixty percent of which defied the DC and the Vatican and supported divorce in a referendum held last year...
ANOTHER loser was John Connally, still the most popular politician in the state. Connally has a reputation for political savvy, but lately he has done a lot to dispel that image, starting with joining the Republican Party in the depths of the Watergate scandal. He refused to endorse either Ford or Reagan, probably hoping that the party might turn to him as a compromise. That looks no more likely now than it did last week, and all Connally accomplished was to alienate both Ford, who might have been saved by a Connally endorsement, and Reagan, who owes him nothing. Connally...
...hotel in Spain-for only $8 a night." In Stockholm, Stringer Mary Johnson headed for the palace by subway, fell downstairs smashing her knee. Still, she arrived in time to handle an interview and a painful curtsy to young Carl XVI Gustaf. Some rulers were unavailable. Since the Lockheed scandal, beleaguered Queen Juliana and Prince Bernhard of The Netherlands see no member of the press. Norway's sailor King Olav, 72, never gives formal interviews. TIME'S Dag Christensen, also a sailor, saw him recently on the water, where he failed to give Olav's red sloop...
...question has been asked ever since the Government saved the aerospace giant from bankruptcy in 1971 by guaranteeing the repayment of $250 million in bank loans; it has become more urgent as a result of the furor touched off by revelations about Lockheed's extensive foreign bribery. The scandal brought in a new management, headed by Robert W. Haack, 59, former president of the New York Stock Exchange. Last week TIME Correspondent John Quirt interviewed Haack and other sources inside and outside the company and filed this report...
...Accounting. Had the Lockheed scandal not surfaced, this dismal performance might have gone unnoticed. Traditionally the top managers of state-owned corporations have formed a sottogoverno (subgovernment) that runs their enterprises with so little supervision that they do not even bother to keep the public or the official government up to date on what they are doing. Earlier this month, for example, the giant Institute for Industrial Reconstruction (I.R.I.), which controls 15% of all Italian industry, got around to releasing its consolidated balance sheet-for 1974. If the manager of a state-owned enterprise blundered, the government would quietly come...