Word: withstood
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Though it is too early to gauge the full effects of the broadcast ad ban, tobacco executives as yet feel no need to resort to such far-out expedients. Under relentless attack from critics, the tobacco industry withstood the 1970 recession better than almost any other U.S. business. New York's First National City Bank reported last week that seven tobacco companies raised their after-tax profits by a total of 19% last year, the second largest gain among 41 industries in the Citibank survey (the leader: amusement companies). The rise stemmed largely from successful diversification that has taken...
Looked at in one way, corporate profits withstood last year's recession fairly well. This week Manhattan's First National City Bank released a tabulation of 2,531 companies, showing that their total profits after taxes fell 8% last year, to $31 billion. The percentage decline was smaller than in half of the previous postwar recession years, and it would have been even less without the strike at General Motors. The auto and parts industry suffered a 52% slump in earnings, and some supplier industries were also clobbered. Steel earnings were off 38% and rubber profits 27%. Alone...
Muhammad Ali has been more than a moment; for a decade he has been the best boxer in the world. I can remember eight years ago huddling in a boarding school cubicle, secretly listening to the few brief minutes that Sonny Liston withstood the beautiful onslaught. We had heard stories that Liston had sent cab-drivers to the hospital for a few bucks fare, and we knew that Clay would win. Liston did not have a chance. He was slow, and he was ugly, and Clay was the King. The graceful dance, the long left, with the twist...
...quake renewed controversy over building codes in California. Until 13 years ago, no structure over 13 stories high was permitted in Los Angeles because of the earthquake danger. Since then, buildings as high as 43 stories have been erected-and they all withstood the strain last week. There were new warnings from some scientists, however, that skyscrapers should not be allowed. Mostly it was older buildings that suffered heavy damage (including the oldest residence in Los Angeles, the downtown Avila Adobe, which had withstood quakes for 150 years). A further worry was the fact that 20 schools suffered severe structural...
...settled life now. He makes films for his own Anchorage-based company, Alaska Wildlife Productions, and has published a book, Minus 148, about the first winter ascent of North America's highest peak, Mt. McKinley. (The title refers to the temperature Art and two other members of the expedition withstood when they were forced to wait out a windstorm for several days in an ice-cave near the summit. One member of the expedition died in a crevasse during the ascent; Art was lucky enough to return to Anchorage with the loss of only one toe to frostbite...