Word: auto
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Dates: during 1950-1959
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...Americans slipped behind the wheels of 6,000,000 new cars (the second biggest auto year on record) and drove off over 46,000 miles of new roads worth $3 billion. They put their feet into 500 million pairs of new shoes, walked into 1,100,000 new houses and apartments, spent a record of $34.7 billion on construction of all types. Housewives cleaned their homes with more new vacuum cleaners (3,000,000) than in 1952, and washed their clothes with more new washing machines (3,700,000); to do the job, they bought a record $400 million worth...
This worry was reflected in the stock market. After hitting a high of 293 in January, the Dow-Jones industrials average started down. But business showed no signs of slipping; there was even a hint of more inflation. When the steel and auto unions asked for more money, they got it with little trouble. General Motors' Harlow Curtice set the pace; G.M. incorporated into its basic wages 19? of the 24? an hour for cost-of-living increases since 1950. When steel wages went up, steel prices were also hiked...
Both in and outside Government, the leaders of private industry shouldered more public responsibilities. Henry Ford II sounded the call for freer world trade, then put aside his auto job and went to work at the U.N., where his very name was symbolic of the high wages of the U.S. free-enterprise system. In his book, Freedom's Faith, Inland Steel's Clarence Randall, another of the new internationalists, wrote: "The new corps of business leaders . . . hold in their competent hands the future of free enterprise ... It is their mission ... to keep America strong." Then he accepted...
...showroom floors. Two months after the 1954 Dodges came out, dealers still had new 1953 Dodges on hand. Total number of unsold new cars in dealers' hands on Nov. 20 was 559,000, highest in history for that time of year. Unless most of those are sold, the auto industry will fall short of its expected sale of. 6,000,000 cars in 1953; even worse, it might slow down sales of 1954 models next year...
...United Auto Workers (C.I.O.) sent its strikers back to work at North American Aviation, Inc. last week with the bitter taste of defeat in their mouths. The union had little choice but to accept what was essentially North American's original contract offer. About 48% of the 33,000 employees had gone back to work voluntarily, and the strike was a failure. More than 100 planes had come off the lines during the 53-day strike, and the company was in good enough financial position to boost its stock dividend to $1 v. 75? in 1952's corresponding...