Word: auto
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Dates: during 1950-1959
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Busiest gospeleers in the newspaper business are auto "editors," who cover an industry which directly and indirectly provides employment for one of every seven U.S. jobholders. On at least a dozen big-city dailies, auto editors are men who also get paid for selling automobile advertising*-a doubling in brass that is hardly calculated to stimulate penetrating reportage. At the other extreme, the longtime policy of many newspapers, e.g., the Baltimore Sun, against naming companies for fear of sounding "commercial," gives much of their business reporting a no-dimension vacuity...
...despite the low visibility and the lack of any clearly discernible trend in production." Many forecasters were taking an optimistic view of the second half, said Chicago's Federal Reserve Bank, because of the economy's natural pattern of growth and several specific expectations. Among them: an auto upsurge when 1958 models come out, a rise in residential construction, a retail-sales boost as rising personal income sparks a gain in consumer spending, a rebuilding of stocks following inventory adjustment...
...Virgil M. Exner, 47, Chrysler's ace designer, got a fitting reward for the long, low, jet-finned 1957 models that won back the company's traditional 20% share of the auto market this year: a corporate vice-presidency, giving Exner the same high rank as his competitors, General Motors' Styling Director Harley Earl and Ford's George Walker...
Here and there appeared signs of a hesitation that could not help pleasing the Fed's Martin, who recommends reduced spending and increased savings as a check on inflation, even if it understandably fails to delight businessmen. Auto sales were not rising to Detroit's high expectations (though production rose last week), and gasoline sales were running behind seasonal expectations. The hoped-for upturn in home-building starts has failed to materialize...
...AUTO INSURANCE RATES are going up to keep abreast of mounting repair costs. Ohio will increase its rates by 12% to 25%, following similar raises this year in 21 states from Massachusetts to California...