Word: auto
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Dates: during 1950-1959
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...hard, glaring fact is that Detroit needs new industry, both to balance the auto industry's piecemeal emigration and to make the city less vulnerable to auto slumps. In February Mayor Louis C. Miriani created a high-level citizens' panel, the Detroit Industrial and Commercial Development Committee, dedicated to "maintaining and improving the economic climate," and its basic aim is to attract new industry...
...Fear that next summer will see an auto strike adds to the recession pinch by making autoworkers, steelworkers, suppliers, et al. all the more reluctant to spend their money...
...tails, hula shirts, black slacks and white sweaters celebrated in their own way: jamming Tokyo's Kyoritsu Theater to swoon and scream at the pelvic pulsations of guitar-twanging "rockabilly" idols. Said a dazed stagehand last week, trying to describe the massed sound of their screams: "Like an auto suddenly braked at 100 m.p.h...
...West Palm Beach, Fla., aging (49) Glamour Boy Porfirio Rubirosa, a sometime auto racer, was caught by police with his Ferrari down, charged with speeding, making a wrong turn and driving with an ear-ruffling muffler, haled to headquarters, where he paid a $25 fine. Huffed Rubi: "I was only trying to reach the bank in a hurry...
Another indication that consumers were growing cautious came from an FRB report that installment buying dipped $435 million in February. Much of the decline was due to badly slumping February auto sales, when poor weather kept buyers out of the showrooms. With the push of hard selling (see Autos), sales were on the rise in March. But new-car inventories of 887,000 were so high that carmakers were not planning to step up production. Ward's Reports counted March production at 357,000 cars, predicted the same rate through the April-June quarter...