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Without a single dissent or abstention, the 5,000 Soviet delegates to the Congress ratified the new five-year plan, tenth in the country's history. Running from 1976 through 1980, the plan aims to boost output by 38% to 42% a year in heavy industry, by 14% to 17% in agriculture. Consumer goods are to grow at 30% to 32%; this sector enjoyed priority over heavy industry during the ninth plan, which ended in 1975 (TIME, March 1), but as Kosygin conceded, "Light industry and other industrial branches on which consumer goods depend have not yet lived...
West Germany's auto industry, after two years of flagging sales and profits, is racing out of the valley of despair like a supercharged Porsche showing its paces in an Alpine rally. Output rose 47% in January from a year earlier, and many executives view 1976 with something akin to euphoria. Predicts Robert A. Lutz, head of German Ford: "It will be a fantastic year...
...years ago a combination of higher oil prices, recession and consumers' lack of confidence depressed industry output 22%, to 2.8 million cars. Volkswagen lost $312.5 million, and German Ford $68.3 million; General Motors' Opel subsidiary, thanks to nimble financial management, was able to stay in the black with a profit of $2.4 million on sales of $1.8 billion. "The big producers were all stuck with high breakeven points [largely because of high labor costs and excess plant capacity] when the recession struck," says Lutz, who moved to Ford from Bayerische Motoren Werke (BMW) in 1974. "Now the arithmetic...
...minutes, which have been withdrawn by the visiting panel, include discussion of the desirable qualifications of a new GSD dean and cite "a lack of ability to fulfill rhetorical objectives...a lack of administrative and academic leadership.. mediocrity of academic output and apparent student and faculty boredom...
...Committee member expressed dismay over the mediocrity which he considered characteristic of both faculty and student output at the GSD. Other members concurred with his impression of a pervading boredom and lack of excitement resulting from a lack of a sense of purpose. Members were very concerned that 1974 GSD questionnaire results indicate only 39 per cent of GSD graduates as a whole considered their GSD training "very useful," while 49 per cent found it "somewhat useful" and 12 per cent found it of little or no use. One member suggested, however, that the current students' complaints about the quality...