Word: seven-year
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Stocks that are sensitive to interest rates-housing and construction companies, utilities, savings and loan associations and banks-led last week's advance. On the New York Stock Exchange, the Dow-Jones industrial average rose 6½ points this week, a gain of 40 points from its seven-year low of 744 on Jan. 30. The rally has been notable for its lack of speculative froth. Many glamour stocks have behaved erratically, up one day, down the next, while blue chips have surged ahead. General Motors, for example, gained $3 a share last week and long-depressed General Electric...
DUNLOP had originally negotiated a national settlement (the so-called "Model Cities agreement") to increase the number of black workers in the construction unions. The locals, however, "protected" union membership with a rigorous seven-year apprenticeship program. The apprenticeship program, blacks charged, discriminated against them and would certainly have delayed their entry into the unions. In Pittsburgh, these charges increased racial tensions and led to a workers' riot. In Boston, Dunlop introduced the concept of "trainee status" as a second route for blacks into the unions. The trainee program provided a form of special tutoring to prepare blacks...
...appointing an FTC chairman to succeed Paul Rand Dixon, a Democrat who has held the job since 1961. Dixon has offered to move down and serve until 1974 as one of the five commissioners. Nixon could name the new man as early as this week, when the seven-year term of Commissioner James Nicholson expires...
Generally Pleased. Burch will replace Chairman Rosel H. Hyde, whose seven-year term expired June 30 but who agreed to remain on the job pending the appointment of his successor. The President is also expected to name Robert Wells, president and general manager of radio station KIUL in Garden City, Kans., to fill the FCC seat being vacated by Commissioner James J. Wadsworth. Because both new appointees will replace Republicans, Nixon presumably will have to wait until next summer, when Democrat Kenneth Cox's term expires, before he gains control of the seven-member commission...
...sometime revolutionaries that sounds fearsomely monolithic but is actually as disorganized and ragtail as Coxey's Army. At the S.D.S. national convention in Chicago last week, the internal dissension was so severe that the five-day meeting promised to be the most chaotic in S.D.S.'s seven-year history-and possibly the last...