Word: instead
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Dates: during 1960-1960
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...more than 26%. "The era of the dinosaur* in the auto business is drawing to a close," he said, and so is "unbelievable waste and ostentation in the most important and most conspicuous product of our economy." To Crusader Romney, the shift meant not only a turn to function instead of frills, but a sign that the national psychology is leaning to ward "reason and realism...
...serious and responsible executives who are not only likely to be unimpressed by the playboy approach but are often offended by it. The salesman forgets that "in the long run, the product must sell itself," and that it is bad tactics to yield to "the temptation of selling himself instead of his merchandise." Moreover, says Randall, expense-account lushes "are notoriously poor judges of people," who often take a man to a nightclub when he would rather be home with his family, to the race tracks when he would rather be puttering with his roses...
...tanker Uzhgorod, loaded with 11,000 tons of high-speed diesel fuel-and with bad news for the West. The Uzhgorod carried the first installment in a 3½-year deal under which India will buy 1,500,000 tons of Russian petroleum products, pay for them in rupees instead of the valuable foreign exchange demanded by Western oil companies. The tanker's arrival marked a milestone in Russia's mounting offensive to drive Western oil companies out of their traditional overseas markets, came just as the battle forced Western firms to cut their prices to meet Russian...
SWISS BANKS, flooded with flight capital from Cuba and Belgian Congo worth $200 million in July, have put out "Not Welcome" mats to new deposits. New depositors will have to pay ¼o/o interest plus banking charges instead of earning ½% interest on deposits. Withdrawals will require three months notice...
Many companies try to cut costs in small but effective ways that are overlooked in times of plenty. NBC Chairman Robert Sarnoff now has two secretaries instead of three. American Airlines, which had more than a 50% decline in first-half profits, has decided to re-use plastic dishes from its food trays instead of discarding them. Minute Maid Corp. tallies the length of all long-distance phone calls, gives a "Joe Blow" award to the longest-winded employee. Savings per year...