2,000-M.P.H. AIRLINER may be on the way. President Eisenhower will ask Congress for $75 million to start development of a Mach 3 supersonic transport, which would cruise at altitudes of 55,000-75,000 ft., carry as many as 150 passengers. Government would have to contribute about $500 million before the first SST could fly in 1970. A likely builder: North American Aviation, now making the 2,000-m.p.h. B-70.

LAWSUIT THREAT against TWA finally forced Howard Hughes to turn over control, of his 78% of TWA stock to a banking and insurance-company trust. In return, he got loans totaling $165 million to pay for 20 Convair 880 jets. TWA will raise an additional $100 million through a public issue to buy 17 Boeing 707 jets now leased from the Hughes Tool Co.

VOLKSWAGEN SHARES will go on sale next month to West German families in the lower-and middle-income groups. The shares will be limited to five per family, cost 350 marks ($83.30) each. As a result, 60% of Volkswagen will be owned by small investors; the other 40% will be split between the federal government and the state of Lower Saxony where Volkswagen factory is located.

PROFIT-SHARING & pension plans for employees are being set up by U.S. companies at a record rate. For the first nine months of 1960, the Treasury, which checks the tax arrangements of each plan, approved 7,729 new plans, a 40% increase over the same period last year.

FIRST-ROUND VICTORY in the proxy war for control of the Alleghany Corp., the holding company that controls the New York Central and Investors Diversified Services, went to Murchison interests. Court ordered Alleghany Chairman Allan Kirby (TIME, Dec. 12) to turn over list of stockholders to Brothers Clint Jr. and John Murchison to solicit support for taking over the company.

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