Word: standardized
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Dates: during 1950-1959
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...wildcatter was also abundantly seen in the West Indies. Cuba, which spudded in its first oil well in 1954 and is now a small producer, brought up enough oil this year to supply its own needs for about two weeks. Cuba's biggest investor, Standard Oil Co. (Indiana), was also drilling two exploratory wells in Jamaica, where its wildcatting rights cover the whole island. In Haiti, Oilman Mecom and an associate drilled three dry holes, but plan to try again...
...Litchfield's chief goal is to up academic standards. He wants to set up a series of alumni visiting committees, modeled after Harvard's Overseers, to make sure that each school and department is up to snuff. To a large extent, future faculty raises will be on the basis of performance. At the same time, some faculty deadwood will have to be weeded out. "You can't talk about a new standard of quality," says Litchfield, "and not admit that some people cannot rise...
Shortage for Europe? At the Commission hearings, big exporters argued that shipments to oil-short Europe were already being restricted. Humble Oil, subsidiary of Jersey Standard and the biggest producer and oil-buyer in Texas, testified that it could supply only 165,500 bbls. of a 300,000 bbl. order from Esso Export. W.C. Connel of the B.P. (British Petroleum ) Trading Co. wired that British companies wanting to buy 3,000,000 bbls. on the Gulf Coast were forced to divert their tankers around Africa to the Persian Gulf because "there is no assured supply of crude...
...once kept a rival paper afloat for several months to avoid the evils of monopoly, Sevellon Brown regularly hired bright young men with graduate degrees (and paid so little that many quit after a short hitch), spent much of his time trying to raise the nation's standards of newspapering. Publisher Brown's own standard: "A newspaper has to be more honest than anybody who works for it or anybody who publishes...
...history. Yet many Americans hardly seemed to notice the amazing performance of the mightiest economy mankind had ever known. Just as the nation was once resigned to a depression psychology, the U.S. was now in the heady grip of a prosperity psychology. The great American boom was almost a standard part of U.S. life, no more surprising than the automakers' ads plugging the "two-car family''-a status more and more Americans achieved...