Business: TIME CLOCK, Sep. 7, 1953

JET planes now account for more than half of U.S. plane production. U.S. planebuilders announced last week that they had already delivered the 10,000th jet plane and the 40,000th jet engine so far built for the Air Force.

THE $70 million fire at General Motors' Livonia transmission plant (TIME, Aug. 24) will cost G.M. 75,000 cars this year, about 2½% of its scheduled 1953 output. Chevrolet cannot make enough Powerglide transmissions to supply Pontiac, and Buick cannot fill all of Cadillac's needs for Dynaflow transmissions. But the fire will not affect G.M.'s 1954...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!