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EVENTS & DISCOVERIES
February 03, 1958
LATEST NOTE ON THE U.S. ECONOMY
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February 03, 1958

Events & Discoveries

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LATEST NOTE ON THE U.S. ECONOMY

This magazine leaves to others definitive analysis of the U.S. economy as a whole but takes natural pride in reporting an economic note at the close of the National Boat Show in New York City (shortly to be followed by boat shows coast to coast): buyers at the New York boat show bought $22,400,000 worth of boats and equipment—a rise of 12% over last year's record-breaking show.

The popular turnout on the final Saturday was so enthusiastic that one woman asked for her admission money back. "It's so crowded," she complained, "that I can't see the boats."

"If anything sank at the boat show," said W. J. Webb, division manager of Evinrude, "it was the so-called recession."

ROUND AND ROUND

I don't feel as though I've double-crossed myself," Jim Myers was saying last week as he climbed into his car to start the long drive to College Station, Texas.

Indeed, why should he? Only a few weeks before he had accepted a new five-year appointment as head football coach at Iowa State at an annual salary of $16,000. He served under this agreement for a month or so before making a new one—to coach at Texas A&M for an estimated $60,000 in salary and assorted fringe benefits.

Myers' acceptance of the Aggie football post was the anticlimactic denouement of one of the most crazy, mixed-up football stories since Wrong Way Riegels ran wild.

During the past month Frank Leahy, Navy's Eddie Erdelatz and half a dozen other top-name coaches came, saw and declined the Aggie post. Myers, too, had been considered and had made a candidate's pilgrimage to Texas, but the Aggie screening committee dropped him when it appeared there was a chance to get Erdelatz. Iowa State took Myers back like a prodigal son. Then Texas A&M bid again and Jim Myers whispered yes.

When the news got out at Iowa State, it made some people pretty mad. Indignant students hanged Myers in effigy. The president of the Iowa State Alumni Association, Douglas Graves, wrote Dr. M. T. Harrington, Texas A&M president, in tones of dripping irony: "If a coach does not have the moral fiber to adhere to a five-year obligation for more than a week, certainly we should expect the president of a college to have higher standards."

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