Word: six-year
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...Brussels last week, Eurocrats debated the merits of the largest international merger in the Common Market's six-year history. The merger unites two firms whose trademark on roll film is familiar to the millions of camera-carrying tourists who have visited Europe. The two: Belgium's Gevaert Photo-Producten, also the world's biggest producer of X-ray film, and Germany's Agfa, Europe's biggest camera maker, which will join in a company that will control 12% of the world's photo business, more than any other firm except Kodak...
...decision was hailed by railroaders, whose fortunes are improving after a long slump. From 1955 to 1961 the profits of the 102 Class I railroads sagged from $921 million to $382 million. In the past year or so, however, the railroads have begun to hum along again. This year their revenues will rise 2% to $9.6 billion, and profits will jump 10% to a six-year high of $630 million...
...used to be that the Christmas season began at Thanksgiving-but it seems to be getting earlier every year. This year, Thanksgiving is late, and there are only 22 shopping days between Thanksgiving and Christmas, the shortest span that can occur in the six-year cycle. Last week, with Thanksgiving still a good fortnight away, many of the nation's stores began breaking out in Christmas lights and decorations, advertising Christmas sales and scheduling extra late-shopping nights...
...have dogged the Government and businessmen more than the U.S. balance of payments deficit. Last week the Commerce Department announced some hopeful news: in the third quarter the payments deficit ran at an annual rate of $1.5 billion, compared with $5.1 billion for the second quarter. This was a six-year low. Main reason for the improvement was that purchases of foreign securities by Americans were "nearly zero" because of the Administration's proposed 15% tax on such purchases. The Government expects the improvement to continue in the fourth quarter...
...crisis. Each sign of a major disagreement lures teams of journalists to Brussels, often to pronounce that the market is dying or dead. The Six's troubles turn a fancy profit for the telegraph companies, the hotels and the nightclubs. Even the Eurocrats find the disputes tolerable because they create headlines, drama, personal attention and, most important of all, the pressures that ultimately produce agreement In the market's six-year history, every big fight over prices or procedures has led to urgent bargaining marathons that eventually welded the Six closer together. Last week the familiar, almost delicious...