Word: showdown
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Then came the dramatic showdown between the President and U.S. Steel. It is a Wall Street axiom that the market always finds a ready reason for a selling wave-and this time the accepted one is Kennedy's offensive against steel. Says U.C.L.A. Economist Theodore Andersen: "Kennedy's criticism of steel triggered the market decline, but the gun had to be loaded-poor yields, better returns elsewhere, the lack of a need of a hedge against price inflation...
...jettisoned them three years ago, Monaco's absolutist Prince Rainier III, 38, restored to his subjects their 51-year-old constitution and frump Parliament. The de-putsch decree -designed to juice up Rainier's popular support and democratic image-was proclaimed on the eve of a showdown with Monaco's protecting power, France, over the principality's tax-free status. Though negotiations would commence below the summit, His Most Serene Highness, backed up by his fully mobilized 70-man palace guard, was pressing for a "man-to-man" confrontation with President Charles de Gaulle. Burdened with...
...uniformed men wearing S.A.O. armbands; they called themselves the "Bonaparte Commando." The entire group was captured without a shot being fired, and their sheepish surrender strengthened those Gaullists who have maintained that the S.A.O. detachments, though capable of bombings and isolated assassinations, have no stomach for a showdown fight...
...Grant once said, "they can fire me." Last week, though, the Journal was struggling through the first strike in its history, and Harry Grant was still chairman. But by striking against the very corporation they are supposed to control, the Journal's working stockholders have forced a showdown on a vital issue: on an employee-owned newspaper, who is really boss...
...while Fidel Castro proclaims himself a loyal disciple of Lenin, and dispatches 3,000 Cuban agricultural students to Soviet state farms rather than Chinese communes, Cuban anti-U.S. propaganda sounds more like Peking than Moscow, has never used Khrushchev's slogan of "peaceful coexistence." In any showdown inside the Communist bloc, Peking-style slogans would be no match for Cuba's economic dependence on the Soviet Union. So far, Castro has managed to remain friendly with both Communist titans, but if Khrushchev decides he must force a choice, the resulting purge could shake the Cuban regime...