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Wagers While-U-Wait. Gambling is a state monopoly, and the house always wins. The government take is generally 50% or more of total wagers, compared with a maximum 22% in Las Vegas casinos. Grand larceny? No, just good policy, insist party bureaucrats, who never tire of showing off libraries and schools built with gambling profits (more than $133 million a year in Czechoslovakia, $300 million in Poland). They claim that gambling keeps the people happy, draws inflationary currency out of the economy, and often provides a handy way of disposing of unsold factory output as prizes...

Author: /time Magazine | Title: Eastern Europe: Red Roulette | 12/1/1967 | See Source »

...University cannot be neutral, it can at least find ways of making itself more open to dissent, recognize the limits of neutrality, tire of its rhetoric and its high-sounding phrases. If we can get an honest discussion of these issues, people will be more reflective...

Author: By James R. Beniger, | Title: Smithies, Walzer, and Peretz Discuss the Five R's: Recruitment, ROTC, Ranking, Research and Relationship | 11/11/1967 | See Source »

Unknown Treasure. Nevertheless, several Western firms that had their property taken over by the Sukarno regime see a better economic climate under Suharto and are making plans to return. Among these are Goodyear Tire & Rubber Co. and Lever Bros. Others, enticed by a four-year tax holiday and easy repatriation of profits, are showing interest. The Freeport Sulphur Co. is prospecting for copper and stands ready to invest $75 million if sufficient ore is found. ITT has signed a $6,000,000 contract to build a satellite relay station near Djakarta...

Author: /time Magazine | Title: Investment: Indonesia Waits | 11/10/1967 | See Source »

...sampling: Gianni Agnelli, chairman, Fiat; George W. Ball, chairman, Lehman Bros. International; Eugene Black, director, Chase Manhattan Bank; Norton Clapp, chairman, Weyerhaeuser Co.; Howard L. Clark, president, American Express; Russell R. De Young, chairman, Goodyear Tire & Rubber Co.; Floyd D. Hall, president, Eastern Airlines; Robert V. Hansberger, president, Boise Cascade; John D. Harper, president, Aluminum Co. of America; Earl B. Hathaway, president, Firestone Tire & Rubber Co.; H. J. Heinz II, chairman, H. J. Heinz Co.; Robert C. Hills, president, Freeport Sulphur Co.; Edward B. Hinman, president, International Paper Co.; Dr. Koji Kobayashi, president, Nippon Electric Co.; Rudolph A. Peterson, president...

Author: /time Magazine | Title: Investment: Indonesia Waits | 11/10/1967 | See Source »

Executive Fords. Since taking over, Blazer and Atkins have expanded with such acquisitions as United Carbon Co. of Houston, the O.K. Tire and Rubber Co., Valvoline Oil, the $96 million chemical operations of Archer Daniels Midland Co., and Warren Brothers Co. of Cambridge, Mass., the nation's largest asphalt-paving company. Meanwhile, Ashland executives including the chairman continue to occupy modest offices and drive low-priced cars. Says Blazer proudly: "We have probably the only executive parking lot in the country filled only with Fords, Chevrolets and Plymouths...

Author: /time Magazine | Title: Oil: Outworking the Competition | 11/10/1967 | See Source »

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