Word: shea
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Adding up the signs, some economists conclude that the U.S. is on the brink of a recession. Others, like the Wall Street Journal's columnist George Shea, hold that the nation has for some months actually been in a recession. Says James A. Byrd, economic adviser for Houston's National Bank of Commerce: "I believe we are probably about halfway through a rolling readjustment.* The recession of 1961 that everyone is talking about is already half over. It will bottom out early in 1961, and by the middle of 1961 we should have a boom. The worst lies...
...picture of confidence, a Manhattan lawyer named Bill Shea announced formation of a third major league: the Continental, which plans to start play in 1961, has already signed up New York, Houston, Denver, Toronto, and Minneapolis-St. Paul. Shea's biggest-problem: getting big-league players. But Congress is strongly pressing the majors to cooperate and Shea is asking for what he loosely terms "ready access" to their manpower pools...
Dyke Benjamin led off the varsity's triumph with an excellent 4:15.6 win over Army's Dick Healy in the mile. Less than an hour later, he came back to take the two-mile, leaving Cadet Dick Greene far behind and setting a new Harvard and Shea Stadium record of 9:08.5. Benjamin's mark was nearly 13 seconds faster than Pete Reider's former University standard, and it establishes him as perhaps the leading distance runner in this part of the country...
...Boston, the State House, City Hall and the Federal Building and nine-tenths of the stores shut down. Robert P. Shea, Boston Commissioner of Public Works, banned all cars without chains from entering the city...
Married. Martha Raye, 42, singing comedienne; and Robert O'Shea, 31, Manhattan private eye, former Westport (Conn.) cop whose first wife filed an alienation-of-affections suit against Martha Raye; she for the sixth time, he for the second; by the mayor of Teaneck, N.J., in the mayor's living room...