Word: businessmen
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Dates: during 1950-1959
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SOME 600 of the world's top businessmen and economists met last October in San Francisco to negotiate a marriage: the union of Western capitalism with the economies of the world's underprivileged nations. Occasion: the International Industrial Development Conference, sponsored by TIME-LIFE International and Stanford Research Institute. This week a report on the meeting is out: Private Investment: the Key to International Industrial Development, published by McGraw-Hill, edited by TIME Contributing Editor James Daniel. It contains challenging appraisals of the tasks and opportunities of capitalism...
...Dwight Eisenhower's White House office, Chicago's Charles Harting Percy, 38-year-old president of Bell & Howell Co., cameramakers, told how key businessmen were planning to hash over ways of fighting the recession. High point of the plans would be a Manhattan meeting of the American Management Association attended by some 2,000 top businessmen. President Eisenhower, who holds it an article of faith that Government, business and labor have a joint antirecession responsibility, jumped to his feet, began pacing the floor. "Do you mean that's really what you're going to do?" asked...
...fighting recession. President Eisenhower urged that businessmen do only ''what is clearly in their own interest." He called for "vigor and imagination in forging ahead with new and improved product developments and in product and market research." He asked business to show faith, not fear, in the U.S. economy by keeping inventories up to normal standards, by investing in needed plants and equipment...
...American people believe in good wages, both in private and public employment . . . But the consumers are not going to be satisfied with less and less value per dollar of price, which is the inevitable result of less and less production per dollar of cost. I am quite certain if businessmen and labor union leaders forget these truths, the consumer will remind them in ways that are clear and painful...
Some U.S. businessmen do not believe that the economy will turn upward in 1958. Last week Walter E. Hoadley Jr., treasurer of Armstrong Cork Co. and a top building-industry economist, gave his reasons for this view to the New York Society of Security Analysts. Said Hoadley: "I do not see evidence of a quick upturn." The recession will last "through 1960. It is more than a rolling readjustment...