Word: year-it
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Though the merger was no pushover for Litton-Stouffer's board rejected Litton's first offer last year-it seems sure that when the Cleveland company's shareholders meet within 90 days, they will agree to the proposal. Certainly Vernon Stouffer, after 43 years in the business, will not be dismayed when Litton Chairman Tex Thornton and his West Coasters take over. He will stay on as chairman, but only last year his family bought the Cleveland Indians, and, he says, "I'm looking forward to spending more time at the ballpark...
Last week, as the land of the ancient Persians celebrated the Now Ruz, or New Year-it is the year 1346 by Iranian reckoning-few of the Shah's people would dispute his right to the crown. More prosperous than ever, millions of Iranians went traveling for the holiday, flocking to Caspian Sea beaches and gathering in homes for the traditional meal, which includes apples, sumac (a bread baked on hot stones), garlic and wheat halva. At a palace reception, the Shah rewarded his ministers with handfuls of newly minted gold coins. In a family tableau showing the continuity...
Mendicant Life. Editor Rabinowitch did not expect the Bulletin to prosper, and he was right. "To say that the Bulletin was founded on a shoestring would be to describe it as overdressed," he says. Despite one of the leanest budgets in the business-currently $24,000 a year-it has lived a mendicant's existence, begging office space from the University of Chicago, money from foundations, handouts from subscribers, art work from a physicist's wife, and articles from the leading scientists of the world. Its admonitory pages bristled with urgent crusades: for disarmament and against military control...
...Sunday, Nov. 24, just two days after he succeeded President Kennedy, he held the first of countless conferences with Budget Director Kermit Gordon. Several days later, the White House let it be known that because of built-in spending increases-about half of them required by legislation passed last year-it would be all but impossible to get next year's budget much below $103 billion. As late as New Year's Eve, while at his Texas ranch, the President indicated to reporters that his budget probably would come to about $100 billion...
...Atlas should have been TIME's Thing of the Year-it has restored our country to a position of prestige in the world...