Word: businessmen
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Dates: during 1950-1959
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...businessmen, one of the prime reasons for the recession is the sharp dip in inventories. Last week the Commerce Department's figures showed just how sharp the cutbacks have been...
...knows when the inventory slide will hit bottom. Yet the cuts have been so drastic that few businessmen think they can continue much longer. Steelmen, operating at less than 60% of capacity, are making so little steel that first-quarter production may actually fall some 5,000,000 tons short of consumption, even with the big drop in steel use in Detroit. January auto sales were the most disappointing since 1954 with only 381,000 new cars delivered-down 22.6% from December. Ford Motor Co., after record 1957 sales of $5.8 billion (with profits of $282 million...
Despite President Shanks's clear optimism, it was still hard for most businessmen to see signs of an early upturn. Steelmen themselves, whose plants operated at less than 60% of capacity throughout much of January, expect no improvement in February. Detroit's worried auto men reported that January production of 489,357 units was down 8.5% from December and 23.7% lower than January 1957. As business cut back buying, the Federal Reserve announced that commercial and industrial loans in 94 major cities tumbled another $218 million for the week, making a total $1.8 billion reduction since...
Around the U.S., economists and businessmen talked increasingly of a tax cut to spur the U.S. economy. But those who looked beyond short-term statistics and noted the vast increase in future Government spending cautioned against any such massive help. Said Treasury Secretary Robert B. Anderson: "I can conceive of situations where tax reductions might be brought into play to help the resumption of economic growth. But it is our judgment that the present condition does not warrant such action." In that he was in tune with FRB Chairman William McChesney Martin Jr., who still regards inflation as a major...
...undergoing tests for the U.S. Army; eventually Cessna hopes to develop a vast commercial market. A second is jets. Last week Cessna landed another $10 million Air Force order for its 400-m.p.h. twin-jet T-37 trainer, booking production solidly for two years. When Wallace decides that U.S. businessmen want a jet, Cessna will be ready...