Word: zenith
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...free trade among its members, have put up barrier after barrier against foreign goods. In the U.S. two actions within the past fortnight have dramatized the growing clamor for restrictions against imports of steel, textiles, shoes, TV sets and dozens of other items. At the end of September, Zenith Radio Corp., the largest U.S. maker of TV sets, announced that it would lay off 5,600 American employees within the next year, because of competition from imports, and transfer much of its color-set production to Taiwan and Mexico. Responding to complaints from U.S. steelmakers, the Treasury Department accused five...
...Administration has negotiated an QMA limiting imports of Japanese color-TV sets to 41% of their 1976 level (a restriction that obviously has not stopped Zenith from concluding that it will benefit by becoming a foreign manufacturer). Another OMA limits imports of shoes from Korea and Taiwan to 25% and 20% respectively. The Government is now under heavy pressure to negotiate an OMA in steel. One reason: privately owned U.S. companies have to compete with foreign mills that are either government-owned or heavily subsidized...
...construction fell even more rapidly than house building during the recession of 1973-75 and has not really recovered; such dwellings account for only 19% of this year's housing starts, v. 39% in 1969. Many Americans share the sentiments of Cheryl Johnson, who with her husband Michael, a Zenith personnel supervisor, is straining the budget to buy a $53,000 house 35 miles north of Chicago. Says she: "After apartment living, we didn't want to share walls with anyone...
Even at its zenith in the early 1970s, the Baader-Meinhof gang never numbered more than about 25. Yet they frightened West Germany into a state of paranoia. Financing operations through frequent bank robberies, the gang set up bomb factories and, through their contacts with international terrorist groups, bought arsenals of weapons and ammunition. Suitably armed, the German terrorists embarked on a killing and bombing spree. They vented their rage on "consumer capitalism" by placing bombs in Frankfurt department stores. They struck at the hated Ami (unflattering German slang for "American") by setting bombs in U.S. Army headquarters in Heidelberg...
...Zenith Chairman Nevin claims that the practice has been going on for years and that several big Japanese makers are involved. As to the number of U.S. kickback recipients, Nevin says: "I don't believe any large American buyer did not have the opportunity to get involved." A senior official at the U.S. embassy in Tokyo told TIME last week that 86 U.S. importers-presumably distributors and retailers, including some well-known chain stores-are under investigation. Worried embassy officials concede that they are convinced a major scandal is about to break...