STATE OF BUSINESS: On the Treadmill

Like a sprinter on a treadmill, U.S. industry is finding that no matter how fast it runs it cannot catch up with increasing consumer demand. Last week American Telephone & Telegraph Co., which set an industrial record for yearly spending with the $1.6 billion put into expansion in 1955, announced that it was still unable to close the gap. This year, said A. T. & T. President Cleo F. Craig, the world's biggest utility will spend a staggering $2.1 billion merely to keep from falling farther behind. With 47 million phones already in service,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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