Word: auto
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Dates: during 1950-1959
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...observe how it shifts between air and sea. They will try to find out whether the CO2 blanket has been growing thicker, and what the effect has been. When all their data have been studied, they may be able to predict whether man's factory chimneys and auto exhausts will eventually cause salt water to flow in the streets of New York and London...
...wage-earners have plenty to spend. The climb is over. The national economy could take plenty of lumps and remain where it is." Thus Harry Stoll, president of Chicago's Mandel Brothers department store, last week summed up the mood of many businessmen. Despite the slump in auto sales, tight money and sagging farm income, the nation's economy was actually holding up fine. Industrial production steadied at 142, only two points off December's peak. But caution was the watchword...
General Motors President Harlow Curtice demanded that the FRB ease credit. Curtice cut his 6,500,000 forecast of auto production to 5,800,000, blamed the drop on tight money. Said he: "I still believe the Federal Reserve Board's policy is not warranted and should be reversed, and promptly...
...more in the Chrysler division, for a total 44,700 laid off, more than 40% of its workers. General Motors closed all assembly plants for a one-day layoff. With current production down almost 38%-and well below sales-it should not be too long before auto dealers start eating a big hole in their 900,000-car inventory...
...argue, it is far harder for them to raise cash for expansion. It becomes especially hard considering the enormous investment required for each ton of steel produced. At Jones & Laughlin. says Chairman Moreell, it amounts to $1.35 for every dollar of sales, v. 35-40? per dollar for the auto industry...