Word: sizing
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Dates: during 1970-1979
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...trimmed with farolitos, votive candles burning on a bed of sand in small paper bags, that offer a warming gleam against the dark. Olympia, Wash., launched a gaudy annual contraption called Christmas Island, assembled from Army pontoon bridges and anchored offshore with a forest of lights and a life-size Nativity scene. Denver's stately City and County Building is a blinking, electrified gingerbread house as multicolored as a jukebox. Not to be outdone, Austin sports a 165-ft.-tall, man-made metal tree shining out over a Santa's Village of shops in a turn...
...businessmen would rush to raise prices to get in under the wire. Further, board members argued, controls would not affect three major sources of price increases: OPEC; Federal Reserve Chairman Paul Volcker, who does so much to set interest rates; and God, who creates the weather that determines the size of harvests...
Many of TIME'S economists detect that the Administration is cutting big and small federal programs extremely sharply to hold down the budget deficit and take some heat away from rising prices. Still, Carter's aides are probably underestimating the size of the deficit. A recession would pull down tax receipts and increase federal spending on unemployment compensation, food stamps and other social programs. While the White House officially maintains that the 1980 deficit will be about $30 billion, some of TIME'S economists expect it to approach $50 billion. The problem will continue into fiscal...
...works by 146 American painters of the 19th and 20th centuries posted a record for a sale of U.S. art: $6,750,950. The Icebergs, a flamboyant canvas by one of America's best landscapists, was bought by Texas Oilman Lamar Hunt. Despite its size (9 ft. by 5 ft.), weight (more than 500 lbs. with frame) and fame, the painting had disappeared for more than a century until it was rediscovered last June in a penny-pinched English juvenile home...
...London's Waddington points out that the auction world's Big Two, unlike most thriving corporations, do not plow back even part of their profits into research, grants for young artists or gifts to museums. Says he: "They are simply dealing in commodities." There is a gavel-size black cloud over the Big Two, however. Christie's, closely followed in London by Sotheby's, in 1975 tacked a 10% buyer's premium on all sales (in addition to the average 10% commission charged the seller). English dealers with American backing sued the two firms...