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...root cause of all this trouble is that individual investors are vanishing from Wall Street, leaving more than 70% of the stock trading to be done by institutions such as banks and pension funds. Last year, the number of stock owners in the U.S. declined for the first time since the N.Y.S.E. began counting in 1952, and holders of mutual-fund shares sold more than they bought for the first time since record keeping began in 1941. Odd-lotters, who trade fewer than 100 shares at a clip, withdrew a whopping $2.3 billion from the stock market last year...

Author: /time Magazine | Title: WALL STREET: Valley of Despair | 6/11/1973 | See Source »

...Bananas, a city employee, thinks he knows the root of the trouble: "It's Ellsberg and all those Commies. Nixon did the right thing. He's protecting the country from subversives." R. Thorne Ellis, salesman for Sheboygan Paints, offers another defense: "At least the Republicans didn't kill anybody-like Chappaquiddick...

Author: /time Magazine | Title: OPINION: How Main Street Views Watergate | 5/28/1973 | See Source »

...Then, after a respite, the astronauts will don their pressure suits and Kerwin will emerge part way from the command-module hatch. Using a pole with cutting shears at its far end (hastily being designed and built at Huntsville), he will try to trim away any debris around the root of the ripped-off solar wing or elsewhere. He will also attempt to swing out the intact wing...

Author: /time Magazine | Title: Science: Skylab: The $2.5 Billion Salvage | 5/28/1973 | See Source »

Bringing the oil out, however, in the face of the North Sea's 100-m.p.h. winds and 90-ft. waves presents a formidable technological challenge. Brown & Root, a U.S. construction firm, is helping to build two semisubmersible drilling platforms for British Petroleum in Scotland. They will be 700 ft. tall, about the size of the largest office building in Europe. A Norwegian firm is building for Phillips Petroleum a 1,000,000-bbl. at-sea storage tank with a double shell; the exterior is perforated to absorb the impact of the giant waves. This technology is so expensive that...

Author: /time Magazine | Title: OIL: The North Sea Rush | 5/14/1973 | See Source »

...transistors more cheaply than we can, the U.S. can produce broilers and beef more cheaply and ship them all over the world." Thus far, Stratford's three basic operational areas are cattle, chickens and potted plants, and Gow organizes each division down to the last moo, cluck and root. Centralized production is one principle: the cattle operation is typical. Stratford's three yards are concentrated within a 30-mile radius, in keeping with Gow's belief in concentrated locations, and they feed a total of 150,000 head. (By December Gow plans to expand...

Author: /time Magazine | Title: AGRICULTURE: Everything But the Cluck | 5/7/1973 | See Source »

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