$5 BILLION TAX CUT is urged by Arthur F. Burns, former chairman of President Eisenhower's Council of Economic Advisers. He contends that an immediate tax slash for all individuals and businesses would be "clearly a sounder method of dealing with a mild recession" than a big public-works program, which would not have any "significant economic effects in the immediate future."

CHRYSLER SHAKE-UP REPORTS, buzzing in Detroit because company's output this year is off 60% and heavy first-quarter loss is expected, picked up speed when two forward-looking vice presidents quit last week: No. 4 Man James Cope and West Coast Plant Boss Robert T. Keller, son of former President K. T. Keller. But President L. L. Colbert denies persistent reports that he will move up to chairman and that Veep William C. Newberg will become president.

NEXT TARGET of congressional committee will be the CAB. Inquiry will look into charges that CAB commissioners are too chummy with airlines, will examine why White House sometimes reversed itself in international air route cases.

CASH DIVIDENDS paid by publicly reporting firms last month rose to $346 million v. $335 million in February of 1957. Biggest gainers: utilities, chemicals and nonelectrical machinery makers, finance and trade companies. The losers: railroads, mining firms, manufacturers of nonferrous metals, cars, textiles, paper.

FARM PLANTING of about 333 million acres this year will be lowest since 1917, but higher productivity is expected to bulge crop surplus.

GROCERY SALES are running 6% to 10% higher than same time last year and food processors are doing as well or better than in 1957, says Grocery Manufacturers of America, Inc.

NICKEL SURPLUS is building up for first time since Korean war. With its stockpile filled and free world capacity running well ahead of demand, Government will try to renegotiate 45 contracts that commit it to buy heavily of Canadian and U.S. nickel through the mid-1960s at prices up to $1.14 per lb., v. current market price of 74-c-.

BIG PIPELINE DEAL is ready for signing by U.S. allies in Middle East. Agreement has been drafted to lay $500 million 1,100-mile line from Iran's Qum field (TIME, May 6) to Turkey's Mediterranean port of Iskenderun, and the two nations have offer of financial help from U.S. investors headed by Wall Street's Allen & Co. Prospect is that Iraq will hook into line via short feeder pipe, thus bypassing Syria.

FIRST ATOM-SHIP CREW, to operate N.S. (for Nuclear Ship) Savannah, will start training this September.

METRO-GOLDWYN-MAYER hankers to make Hollywood's first move into live TV. Negotiations with TV's Robert (Omnibus) Saudek are getting warm, and plan is for joint production of six 60-to-90-minute spectaculars costing $350,000 each during 1958-59 season.

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