Word: businessmen
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Dates: during 1950-1959
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...present mood of business is caution. There's been a slow climb to a very comfortable plateau on which businessmen make money and wage-earners have plenty to spend. The climb is over. The national economy could take plenty of lumps and remain where it is." Thus Harry Stoll, president of Chicago's Mandel Brothers department store, last week summed up the mood of many businessmen. Despite the slump in auto sales, tight money and sagging farm income, the nation's economy was actually holding up fine. Industrial production steadied at 142, only two points off December...
...tightening of credit has put a slight damper on our long-range planning." Department Store (Daniels & Fisher) President Joe Ross worried that the money shortage might cut back on Denver's "tremendous growth." Complained Ross: "The cost of expansion is prohibitive because of the money rates." But few businessmen had been forced to alter building and modernization plans. Actually, the elimination of marginal industrial expansion had been one of FRB's chief aims. With 1956 capital expenditures running 30% ahead of last year's rate, much expansion could be postponed without damage to the economy...
While the U.S. was barring one of its own businessmen from trading with the Reds, British businessmen persuaded their government to open up trade with the Iron Curtain countries. The British eased a 1951 embargo on shipping the Chinese Reds rubber, tractors and electronic equipment, and approved a shipment of 150 tractors, though such exports are still banned for U.S. businessmen. Businessmen in Japan, France, Belgium and other allied nations were also pressing their governments to get U.S. approval of their big plans to sell to the Soviet and her satellites. Riled by this eagerness to trade with Communist nations...
...Many businessmen and economists think that any big increase in the price of steel is both 1) dangerous to the stability of the economy and 2) unnecessary. They argue that the industry can pay for the increased capacity out of its profits. Last year's earnings of $1 billion, about 72% better than 1954, were the best ever. And in 1956's first quarter, profits improved to $264.5 million, more than 40% better than 1955's first three months...
Steelmen talk of a price boost to $15 more per ton-the biggest hike in history. Such talk is partly to prepare U.S. businessmen for an unpopular move, and partly to put much of the onus for the rise on the United Steelworkers, who are expected to demand a big wage increase, possibly as high as 60? an hour. Even if the Steelworkers get as much as 20? an hour, the union claims that it will cost the industry only an additional $4.00 per ton. While other costs are also climbing-iron ore is up 7.4% since July, railroad freight...