Word: coal
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Common Market Cuts embody the goal of slashing reliance on imported fuel from 63% to 50% by 1985, slowing the growth of energy consumption, reviving the coal industry, raising production of natural gas and speeding development of nuclear energy...
...continued since then; the fourth quarter is expected to be off by about 2.4%. What happened? For one thing, there was a lot of "water" in the capital-goods backlog-excess orders spread among several suppliers by companies merely waiting to see who would deliver first. Then came the coal strike and the disastrous auto sales figures from Detroit; says Michael Evans, president of Chase Econometrics Associates, a Manhattan forecasting firm: "All the water got squeezed out of the order numbers. Then everyone panicked and cut some more." Prospects for the year ahead are for more cutting. Depending on which...
...office equipment like computers. Electric utilities will hold their expenditures to about $17 billion next year, little changed from 1974; yet because of inflation, their outlays will be down in real terms for the first time in years. Most forecasts agree that the biggest spenders in 1975 will be coal, copper and other mining companies, which plan to increase their capital outlays by a dramatic 40%, to $4 billion, the petroleum industry (up 35%) and iron and steel firms...
UNEMPLOYMENT: The November jobless rate of 6.5% does not reflect the full impact of the coal strike nor the most recent, and continuing, wave of layoffs in auto, appliance and other industries. There is a likelihood that the jobless rate will hit 7% even before the end of 1974, and that it will continue climbing to a peak that members of the Board of Economists estimate at anywhere from 7½% to 8% or even 8¼% (the postwar high was 7.9% during the 1948-49 recession). Moreover, that peak will be reached late in 1975; just as employers...
Arabel's Raven is considerably less intricate. It concerns a large, grumpy bird named Mortimer who takes up residence in a lower-middle-class British household, also inhabited by a small girl named Arabel. Mortimer's unquenchable hope is to find diamonds in the family coal scuttle, but he soon branches into carpet eating, letter spearing and serving as unwilling accessory to a diamond heist conducted by a trained squirrel and a pair of inept gangsters...