Word: luce
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Dates: during 1960-1969
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...Luce believed that "America's great achievement has been business"?and he charged a new magazine, FORTUNE, to report business not in dull statistics but through drama, personalities and technology. After a year of careful preparation, FORTUNE'S first issue, an elegant and handsome magazine with a black and bronze cover, appeared in February 1930. Luce later said that it was difficult to imagine a magazine less likely to survive: FORTUNE had walked in on the Great Depression. As a later FORTUNE managing editor, Eric Hodgins, put it: "Almost on the eve of FORTUNE's publication, the whole...
...economy. As Franklin Roosevelt was elected and power ebbed from Wall Street to Washington, the magazine's editors made Government as much as business the object of editorial scrutiny. In so doing, FORTUNE in the early '30s came down very much on the side of the New Deal, reflecting Luce's general approval of the early reforms of the Roosevelt Administration as well as the personal sympathies of FORTUNE's writers and researchers...
...precursor of the TV documentary. Under the aegis of Larsen and Producer Louis de Rochemont, it produced hundreds of provocative films for 15 years before being phased out in the face of TV in 1951. In addition to its value to the art of cinema documentary, it heightened Luce's already considerable interest in the place of pictures in journalism. "Pictures cannot tell all," Luce wrote in launching THE MARCH OF TIME. "But what pictures can tell (with the help of a word or two), they tell with a force, an explicitness, an overwhelmingness which reportorial words can rarely equal...
...field was wide open in the U.S. Luce promised that the new magazine's purpose would be "to see life; to see the world; to eyewitness great events; to watch the faces of the poor and the gestures of the proud; to see strange things; to see and be amazed; to see and be instructed." As this language suggests, Luce himself chose the name LIFE and bought out a humor magazine of that name...
...expectation of a small and slowly growing circulation. When the demand for it went beyond the capacity of the presses to print, advertisers swarmed aboard for a free ride, while the bills for paper and ink alone swallowed up the magazine's revenues?and then some. Before launching LIFE, Luce had declared: "It can be safely assumed that $1,000,000 will see LIFE safely through to a break-even 500,000 circulation or to an honorable grave." Yet Time Inc. spent $5,000,000 to keep LIFE from dying of success before the magazine finally turned the profit corner...