Word: backlogs
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Both inventories and unemployment have been affected by the cutback in auto production. The industry, faced with a backlog of more than 1,000,000 unsold cars, has already cut its scheduled February output back to the January level. To the 31,000 laid off in the industry by. mid-January, another 80,000 will be added in the next fortnight with the short shutdown of General Motors, Ford, American Motors and Plymouth plants...
...Birmingham and its steel mills to Los Angeles and its aircraft plants, unemployment pockets grew; Trinidad, Colo., a mining and cattle town of 12,000, reported that 20.3% of its work force was job hunting. After the second best year in automotive history, Detroit was anxiously eying a growing backlog of unsold compacts in showrooms and on snow-packed car lots. The cost of living edged upward by one-tenth of 1% in December, bringing it to a record high. The stock market was strong but erratic: rails drooped badly even while American Telephone & Telegraph shares reached an alltime peak...
...chairmen of the House and Senate Judiciary Committees, and the federal bench, was agreed on the urgent need for more federal judgeships. The number of federal judges had been increased by 26% since 1941, but the case load had soared by 60% over the same period, and the swelling backlog of pending civil cases amounted to nearly a year's work for the federal courts. Thousands of U.S. citizens, argued Attorney General William P. Rogers, were being "denied justice because of delay...
...auto industry, hailed in 1960 as one of the chief props of a sagging economy, last week showed signs of sagging itself. Faced with slipping sales in December and a backlog of about 1,000,000 new cars, a record for this time of year, the industry began to trim production to fit in more closely with sales. The cutbacks meant that production in the next few months will look poor when compared with 1960, when the industry produced heavily in the first quarter to replenish stocks depleted by the steel strike...
WORLD COFFEE SURPLUS is building up. Backlog at present is 40 million bags, about an eight-month supply at current consumption rate, and production continues to outstrip demand...