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...hopes of a big discovery. Recently oil and gas were discovered off Sable Island, Nova Scotia, and hopes soared. Geologists concluded that the find was probably part of a pool extending southward to North Carolina, and oilmen accelerated the Atlantic search. Most promising sites so far: Georges Bank Trough off Massachusetts, Baltimore Canyon Trough off the Middle Atlantic states and Blake Plateau off Florida. As Geologist Wilson Laird, the consortium's spokesman, told TIME Correspondent Christopher Byron: "We won't know if there is a single drop of oil until we actually drill for it. But based...

Author: /time Magazine | Title: OIL: The Battle of the Atlantic | 1/3/1972 | See Source »

Cutting the Dividends. It will take more than grumbling at the club to lift the steel industry out of its trough. Prices for raw materials have risen sharply since 1968; nickel and coal have gone up 40%. Steel's earnings amount to only 5% of stockholders' equity-dead last in a field of 22 top manufacturing industries. Most companies have cut their dividends by one-third this year. Even so, the salaries of top steel executives are often huge. U.S. Steel Chairman Edwin H. Gott, for example, last year collected a salary...

Author: /time Magazine | Title: Business: Trying to Avoid an Unwanted Strike | 5/24/1971 | See Source »

RICHARD NIXON at mid-term is a President whose capital has been beset by malaise and doubt from the shrill, divisive closing days of the election campaign to last week's brief but defiant railroad strike. Even loyal White House men speak of a "trough." Unemployment has climbed to 5.8% and inflation continues unchecked. A major national undertaking that has Nixon's backing−development of a supersonic transport plane−is in danger of being abandoned. Former Interior Secretary Walter Hickel. pink slip in hand, goes on television to attack the Republican posture in the election...

Author: /time Magazine | Title: Nation: Climbing Out of the Trough | 12/21/1970 | See Source »

...champion in a workingman's pub, sly old convict; his face, like that of the late Everett Dirksen, told something of where he had been. Styron's face was a gentle mystery. Smooth for its forty-five years, it had of late come to look maybe a touch soft-trough so unblemished you wondered if his secret picture, like Dorian Gray's, bled and festered somewhere in the attic. There was something of the Frat Rat about him: he would come back to reunions...

Author: By Larry L. king, | Title: Mailer and Styron at Harvard | 10/2/1970 | See Source »

...used to think that war was Henry Fonda shooting it out behind a water trough on a dusty Wyoming street. Or Achilles chasing Hector around Troy. So the only way that I have been able to understand the war in Vietnam is to pretend, each time a GI or a Vietnamese died, that it was my brother or my father or my mother that died. By now over a million Vietnamese have been killed and probably 80 thousand Americans. If all of us felt even a little bit of that in our stomachs, not even all of America could digest...

Author: By Richard E. Hyland, | Title: Learning From the Vietnamese | 9/24/1970 | See Source »

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