Word: virtualization
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Plans for the issue, A.T. & T.'s first stock offering since 1930, are contingent on stockholder approval of a proposal to increase authorized stock from 60 million to 100 million shares. But approval by both the stockholders and SEC is a virtual certainty. Last year A.T. & T. spent a record $1.6 billion in expansion. President Cleo F. Craig expects the total to top $2 billion both this year and next...
...contractors such as Boston's famed Arthur D. Little Inc. (1955 gross: $11 million), whose 800-man research staff has developed products ranging from rubber cement to a better instant coffee. Research is also farmed out to nonprofit institutions and universities, which, before World War II, had a virtual monopoly on basic research...
...ranging from the pioneering Brooklyn Bridge to the machine precision of General Motors' new Technical Center outside Detroit) has made U.S. resources, machine craftsmanship and technical brilliance the envy of the world. Because there have been and are great opportunities in the U.S., the country now has a virtual monopoly on the best creative architectural talent of this century...
Ever since 1949, U.S. businessmen trying to operate in-or get out of-Red China have learned the bitter truth of this ancient Chinese proverb. Under the guise of smiling cooperation, the Communists have systematically stripped businesses while holding their managers virtual prisoners. Last week the last of hundreds of U.S. businessmen, who once did a $1 billion business in China, was safely in Hong Kong with a tale of seven years of subtle commercial torture. His name: Charles S. Miner, 49, manager of a big auto, newspaper, real-estate and insurance business in China for Manhattan...
Royal Prospects. The King's prospects are better than his predecessors'. For more than a century the Kings of Nepal, whose subjects believe them to be the reincarnation of the god Vishnu, were virtual prisoners of their Prime Ministers, whose usurped power was handed down through the Rana family for generation after generation. A revolution sparked by neighboring India in 1950 toppled the Ranas and restored the Kings, under the benevolent protection of Jawaharlal Nehru, who needs mountainous Nepal as a buffer against Communist China...