Word: suez
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Five Days, Five Deaths. This worked well enough so long as the post-Suez crisis shipbuilding boom held up and eager purchasers were willing to make advance payment on ships, thereby assuring Schlieker a steady cash inflow. But lately, with a decline in demand, he has been obliged to agree to payment only after delivery. Result was that the cash collected by his shipyard dropped $14.5 million this year...
...Britons studied the new faces that sprouted in place of Mac's axed heads, even critics had to admit the addition of considerable brainpower. Reginald Maudling made an impressive new Chancellor of the Exchequer (see box). Education Minister Sir Edward Boyle, 38, is a courageous, cultivated "Suez rebel" who has served with distinction in lower-echelon government posts, including the Ministry of Education, and recognizes Britain's urgent need for expanded technical education...
...reputation as President of the Board of Trade, a key economic post in which, despite gloomy expectations, he managed to expand Britain's trade with the Common Market. A tough, pragmatic bargainer who is trusted by the party's right wing (he did not oppose the Suez invasion), he was picked last year to succeed Iain Macleod as Colonial Secretary, has quietly demolished some herculean roadblocks in the path of independence for African territories, notably in reaching agreement last month on a five-year plan to settle 70,000 landless natives on a million acres of Kenya...
Arab Socialism. Despite administrative and economic bungling, Nasser has survived a series of cliff-hanging crises, from Suez in 1956 to last year's collapse of the United Arab Republic, when Syria violently withdrew from the coalition with Egypt. Nasser was so shaken by that event that he allowed his secret police to institute a virtual reign of terror. He pulled out of this scare about four months ago, just in time to avoid a serious political reaction against him. With the help of massive economic aid from the U.S. and the International Monetary Fund, he has made another...
...their new verdant look to a fleet of water-carrying Dracones -huge, sausage-shaped bags of rubber-covered nylon, which are towed over to the islands daily from the Greek mainland. The Dracone-which gets its name from the Greek word for serpent-was conceived during the 1956 Suez crisis by British Engineer William Rede Hawthorne, 49. Seeking a quick way to build up Western Europe's oil-hauling capacity, Hawthorne began experimenting in a wave tank with sausage skins filled with alcohol. But soon there was a glut of oil tankers-and European refineries had no more need...