Word: motorized
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Dates: during 1950-1959
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Conventional gasoline engines have a basic fault; their reciprocating parts (pistons, connecting rods, etc.) must be stopped and started thousands of times per minute. This wastes power, and it also calls for a heavy engine to stand up against the battering it gets. Last week NSU Werke motor company of Neckar-sulm, West Germany described a gas engine that has neither pistons nor valves. Invented by a mechanical genius named Felix Wankel, it was developed with financial help from Curtiss-Wright Corp., which provided a fervid earlier announcement of it (TIME, Dec. 7) but no mechanical details...
...rich-quick U.S. electronics industry was fixed last week. Only 30 minutes after being placed on the market, the first public offering of 1,000,000 shares of Transitrun Electronic Corp. at $36 each was snapped up by investors. Not since the first public sale of 10.2 million Ford Motor Co. shares in 1956 has a stock issue attracted such broad public demand. Transitron quickly jumped to $49 per share in over-the-counter trading, closed the week at $43 per share. To Transitron's owners, David and Leo Bakalar. went $34.4 million for part of their interest...
...General Motors Corp., hardest hit, with 215,000 workers laid off and all production at a halt, was moving faster last week than even its own executives expected. G.M. expects to have all divisions operating at full speed by Dec. 18. Chevrolet plans to have 63,000 workers back, producing 40,000 cars a week, by about Dec. 16. The 13 Chevy assembly plants are shooting to break the alltime record of 188,410 cars produced last December. Chrysler Corp. finally had to shut down this week for lack of steel, but plans to start up again next week, will...
Detroit had expected it for months; last week Ford Motor Co. finally had to make it official. The company dropped its medium-priced Edsel, introduced only two years ago. Said Ford, in a pained announcement: "Retail sales have been particularly disappointing, and continued production of the Edsel is not justified, especially in view of the shortage of steel...
...that ranks with that of the top nations outside the U.S., and is higher than Great Britain's. Australians eat more meat (nearly 300 Ibs. annually), consume more fruit, cereals and sugar than either Americans or Britons. Except for the U.S. and Canada, they own more motor vehicles (244 for every 1,000 people), enjoy more TV sets (70 for every 1,000) and telephones (200 per 1,000) than almost any other nation. All this Australia gets from a burgeoning industry and agriculture that are racing ahead in seven-league strides...