Monday, Aug. 29, 1960
CORVAIR COMPACT BUS will be introduced by Chevrolet this fall to compete with Volkswagen's junior-sized bus, selling at the rate of 36,000 annually in U.S. this year. To be called the Greenbrier, the six-cylinder Chevrolet bus will closely resemble the Volkswagen in appearance, sell for about $2,400.
SWISS BANKS, flooded with flight capital from Cuba and Belgian Congo worth $200 million in July, have put out "Not Welcome" mats to new deposits. New depositors will have to pay 1/4o/o interest plus banking charges instead of earning 1/2% interest on deposits. Withdrawals will require three months notice.
PILL PRICE CUT of 15% for antibiotics has followed criticism of high drug prices by Senate Antitrust Committee. Pfizer, Upjohn, Lederle and Squibb cut prices of tetracyclines--biggest antibiotic family--to retailers buying direct.
REGULAR GAS is continuing popularity rise among U.S. drivers. Some 58% of sample group of motorists now use regular grade, says Du Pont's petroleum chemicals division, v. 50% in 1956, 48.5% in 1952. One big reason for the jump this year: low-octane-consuming compacts.
TURNDOWN OF CASTRO by Piper Aircraft will deprive Cuba of 25 Piper Pawnee crop-dusting planes it sought to buy for $10,000 each. Reason: the planes would be used on plantations seized illegally from U.S. and Cuban owners.
AIR COACH TRAVEL topped domestic first class traffic in July for first time in airline history. U.S. airlines flew nearly 1.5 billion coach-revenue passenger miles v. 1.2 billion in first class.
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