Word: traded
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Dates: during 1960-1969
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...hand in shaping the council's statement on world economic and social devel opment, which underscored the gap between rich and poor nations. The document declared that it was the "duty" of churches in industrialized nations to influence their governments on behalf of increases in foreign aid and trade agreements favoring underdeveloped lands. One proposal that is likely to get lukewarm response was that individual Christians, through voluntary donations, give a percentage of their own income to development aid, making up the difference between what their governments spend on this cause and what they should spend...
...more than a year, while the Justice Department has grown more cautious about pressing antitrust suits and opposing mergers, the Federal Trade Commission has become increasingly aggressive. Last week, in one of its boldest actions yet, the FTC moved to turn a giant into a midget. The commission ordered Maremont Corp. of Chicago, a leader in the automotive-parts field, with sales last year of $186 million, to a Washington hearing next month. The agency's aim is nothing less than to make Maremont sell off 40 companies that accounted for about $100 million of the total...
...streets and lolled on its beaches. Salty natives sneer that one-day visitors "come with a five-dollar bill and a dirty shirt and change neither." Nevertheless, local businessmen gladly pocket the $20 million a year spent annually on bus trips, postcards and clam chowder. In fact, the tourist trade is growing so rapidly that many "off-islanders," the regular summer residents, are concerned lest their historic hideaway lose its charm...
...Beinecke Jr., 50, heir to a sizable chunk of his family's Sperry & Hutchison Green Stamp fortune and a successful real estate developer and cattle rancher in his own right, thinks he has a solution for old Nantucket's people problems. Beinecke's idea is to "trade up" the island by finding fewer people who will spend more money. "Instead of selling six postcards and two hot dogs," he says, "you have to sell a hotel room and a couple of sports coats...
Fewer Passengers. To trade up, "Bud" Beinecke has been buying up. To attract yachtsmen, he and a Nantucket partner have bought out most of the deteriorated wharf front and constructed a large shopping center and marina complex that has tripled the number of yacht berths. To keep some of the penny-ante trippers away, he has refused to renew the lease on his docks for one of the excursion steamers out of Hyannis and demanded that the other carry fewer passengers at higher rates. To upgrade the mainstreet shopping area, he has bought up 80% of the commercial acreage...