Word: boardrooms
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Dates: during 1960-1969
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...spending on new plant and equipment, which is the major thrust behind the 1969 inflation. Early in the year companies planned to spend some $73 billion on new facilities, or 14% more than last year. But tight money and prospects of less exuberant demand have begun to change boardroom thinking. The Business Council expects that spending will increase only 11% this year and probably much less in 1970. Robert Tyson, U.S. Steel's Finance Committee chairman, concedes that the scarcity of credit may force cutbacks in 1970. "If you don't have the money...
...burly, brooding Ditto, who prowls the streets in a dashiki, arouses fear or hatred in many whites. Detroit's police and school officials see him as an ir responsible agitator. However, in the boardroom of New Detroit Inc., the city's branch of the antipoverty Urban Coalition, Ditto sits on a 40-member board with people like Henry Ford and the chairman of General Motors. There, Ditto's words-even if couched in the abrasive patois of the ghetto-are listened to carefully. Says William T. Patrick Jr., New Detroit president: "Frank Ditto...
...auspicious of Commerce's signals was flashed by the turnaround of three indicators: orders by manufacturers for durable goods, contracts and orders for plant and equipment and new building permits. Reversing sharply in March, the three portend slower growth in inflation-provoking corporate spending on expansion. They reflect boardroom decisions that will soon show up as changes in factory output and personal income, which are measured among the so-called "coincident" indicators. Reaction is already evident in retail sales, which also turned down sharply in March. Eventually, the effects will ripple through the economy as rises or declines...
...Columbia's trustees accepted Kirk's resignation even though they have not yet settled on his successor. Apparently divided over whether the retirement would seem too much of a concession to student rebels, the trustees debated the matter for nearly four hours behind closed boardroom doors. But in the end it was obvious that the student uprising had, indeed, forced Kirk's departure...
...least history," mused Depression-era Realist Thomas Hart Benton, 79. On hand to receive an honorary degree at Manhattan's New School for Social Research, Benton made a beeline for the old boardroom to inspect his wall-to-wall mural, Contemporary America. The crusty Missourian allowed that the 1930 painting reflected a nation entranced but not yet enslaved by technology. "Look at that train!" he said proudly, pointing out a black smoke-belching locomotive. "The machines of that day really had something for an artist. They weren't afraid to exhibit their power. Today's machines enclose...