Word: bearishness
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Dwindling Stockpiles. Yet for all the bearish signs, there were clear indications of economic revival. Manufacturers reduced their inventories in April a huge $1.1 billion, the sharpest monthly drop since the bottom of an earlier recession in May 1958. The liquidation foreshadows increased production to replace dwindling stockpiles, and there may not be much longer to wait. New factory orders in April leaped 6.4% over the month before, the biggest jump in 20 years. Among the leaders: heavy electrical equipment used in power generation and transmission, fabricated metals and paper goods...
Over the past few months some people have accused the press of exacerbating the nation's bearish mood. They argue that the public wants some basis for hope and faith. We agree. But we also believe that economic maladies, like others, require thorough examination and sound diagnosis as the first steps toward a cure. As Vice President Rockefeller put it: "Problems and opportunities go together . . . I have confidence that we are going to find the right answers...
While his father wrestles with a bearish economy from the White House, Steve Ford, 18, plans to wrangle with more manageable stock on a Utah ranch. Postponing his freshman term at Duke University, the publicity-shy son of the President will seek out the private life of a ranch hand. Despite Ford's detour from Duke, his classmates at T.C. Williams High School in Alexandria, Va., apparently have no doubts about his future. He and Coed Janice Hodges were voted "most likely to succeed" by then" fellow seniors, and posed for the appropriate yearbook picture, costumed as Bonnie...
...realization that the transfer of power by itself would do little to solve the economy's persistent problems of rampant inflation, sky-high interest rates and declining output. Both sides of the mood were successively illustrated on Wall Street, where the Nixon years have been mostly bearish; though the Dow Jones industrial average hit its alltime high of 1052 in January 1973, at the beginning of last week it stood 180 points below its level on Nixon's Inauguration Day in 1969. In the first three days of last week, the Dow shot up 45 points in anticipation...
...Cousins, 60, the turn of events seemed like a kind of kismet. He had invested most of his professional life in SR and was bitter about surrendering it to two hot entrepreneurs younger than he (Charney is now 31; Veronis is 45). In exile, Cousins was bearish about the prospects of the Charney-Veronis enterprise. Events seem to have vindicated his acumen. "The reason that I left the Saturday Review" he said last week, "was that its fragmentation into four monthlies was not a sound intellectual concept. How could it then be a good business concept?" If Cousins was elated...