STATE OF BUSINESS: Facts & Figures, Jul. 26, 1948

Hunky. Over a magnum of champagne, M-G-Magnate Louis B. Mayer signed up Dore Schary, thus became Hollywood's first to profit from Howard Hughes's shake-up at RKO (TIME, July 19). As executive producer and Mayer's No. 1 man, Schary will direct production of all M-G-M pictures, draw a salary of about $5,000 a week. Punned an M-G-Mster: "Now everything will be hunky Dore."

Flabby. Jitters over steel's wage-price hikes, the special congressional session (see NATIONAL AFFAIRS) and the Berlin crisis (see INTERNATIONAL) sent stocks skidding on New York's Big Board. In five days the Dow-Jones industrial average dropped 5.72 points to...