Monday, Mar. 21, 1960
TOUGHER ANTITRUST POLICY will be adopted by Justice Department. Unless a company admits to guilt, thus facilitating suits for damages by private parties, state or local governments, Acting Antitrust Chief Robert A. Bicks will refuse to enter into a consent decree.
SATELLITE CONTRACTS worth $283 million were awarded to Lockheed Aircraft Corp. by the Air Force. Major $160 million contract is for Samos, the Air Force's global surveillance satellite system. And $52 million will go for Midas, the infra-red detection system to report trails of heat from enemy missiles in flight, and $71 million for Discoverer, the space-probe program.
CORPORATE LUXURY resort will be built along Colorado's White River by Elliott Roosevelt and two Denver businessmen. Limited to 500 companies, membership will cost $10,000, plus $90 per month dues. Called the All Seasons Club, posh, 250-room hotel is designed for expense-account entertaining, will feature golf course, ski lift, and big-game hunting.
NEW CONSTRUCTION in 1960s will require $900 billion for building and services, predicts F. W. Dodge Corp. Total new construction, now running about $55 billion a year, will rise to at least $65 billion by 1970.
MANAGEMENT CHANGE is expected at Brown Co., a major New England paper and pulp maker, whose earnings have been falling. Thomas Mellon Evans, who took over Chicago's Crane Co. (TIME, May 11), has acquired an important stock interest in Brown.
CANNED ANNUAL REPORTS were mailed to 96,000 stockholders by American Can Co., first time a report has been sent in one of the company's own products. It was enclosed in a tube similar to one that usually holds biscuit dough.
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