Word: boost
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...glad to see your Jan. 5 cover showing Charles de Gaulle as "Man of the Year." No other person has or will change history as he did during 1958. France will soon boost her economy again owing to the new change in the value of the franc. The entire world owes your man of the year a great deal...
...defense budget comes to $40.9 billion, an increase of one-fourth of 1% over this year, not enough to cover price up-creep. A 12% boost in research and development funds is balanced by a 15% cut in military construction outlays. Procurement outgo stays about the same, $14 billion, with no money for Air Force interceptors or phased-out missiles such as the Navy's Regulus II, more money for newer missiles. The Air Force's missile-of-the-future, the solid-fuel Minuteman, is scheduled for a 40% increase to $270 million. Within the defense budget...
Such damaging competition would of course raise no objection if waged on a purely private basis. This, however, is a case of state aid being used to boost one private organization at the expense of another. If the Commonwealth is to delegate broad responsibility to a group such as MeBAC, it should make certain that no one theatrical company is given a monopoly on its board such as the Cambridge Drama Festival now holds. This would not only dispel the charges of unfairness that now jeopardize the Arts Center project, but the valuable theatrical experience of a boader range...
...reputation for quality, plus substantial assets and a promising moneymaker in its new smelter at Baie Comeau, Canada. Last April, apparently afraid that Reynolds or some other aggressive U.S. concern would buy control, Aluminium's chairman, Viscount Portal of Hungerford. got stockholder approval to boost the firm's shares from 9,000,000 to 13,500,000, sell the extra shares for expansion capital. Portal decided that the U.S. company he wanted as a partner was Alcoa. Last October Alcoa offered $8.40 a share (the market price) for the 4,500,000 new shares. Total: $37.8 million...
...support from the 17,000 Aluminium shareholders. Portal promised a sizable dividend boost. In a final desperate gesture, Portal called in 14 leading old-line British banks, who claimed to control 2,000,000 of Aluminium's 9,000,000 shares, to help in buying more shares. The banks said they would pay $11.48 a share for one-half of each stockholder's holdings if he would keep the rest three months, i.e., until the fight was over. This only made stockholders madder, since it showed that the original price to Alcoa had been much...