Word: crediters
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Dates: during 1960-1969
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True, Lockheed is a great company, and much of the credit belongs to Chairman Gross and his dynamic executives [Feb. 11]. You say the chairman is a banker turned supersalesman and that the president and vice president were accountants who became brilliant administrators. But it takes more than salesmen and administrators to produce technological triumphs. Oh yes, you did say: "Engineers and scientists constitute a third of Lockheed's work force...
...beat further price hikes, businessmen are increasing their inventories at a pace unequaled since the Korean War: $10.1 billion a year. During January, bank credit expanded at 20% a year, double the already high rate of the past five years. Skilled labor has become so scarce that Inland Steel is trying to fill 600 job vacancies, is recruiting as far away as 400 miles from its East Chicago base. Detroit automakers are hiring unemployed Appalachia mountaineers to sweep floors -at $3 an hour. For its part, the Government has poured on more inflationary fuel: the national income accounts budget, which...
When Johnson failed to reappoint conservative C. Canby Balderston to the seven-man board, there was some thought that he might recast the Federal Reserve to swing it toward looser credit. Last week, however, the President appointed Assistant Commerce Secretary Andrew F. Brimmer, the board's first Negro member, who seems unlikely to change its apparent inclination toward restriction. Brimmer, 39, a Harvard Ph.D., is a onetime economist at the New York Federal Reserve Bank and is known as cautious and moderate in money matters...
...monetary policy alone does not do the anti-inflationary job, the Government will move on the tax front. Economist Heller proposes a temporary suspension of the 7% tax credit for new investment; that apparently would be a quick way of relieving the capital-spending boom without offending too many people. Treasury Secretary Fowler, however, would prefer a general increase in corporate and personal taxes if necessary. Said Senate Minority Leader Everett Dirksen last week: "The Ad ministration is talking in terms of another 5% income tax increase and an added 2% corporate tax later this year...
Ironically, the election's effect has been just the opposite: the prospects for reform are greater now than at any other time during the past four years. Credit for the School Committee's recent achievements belongs primarily to its new chairman--a moderate but aggressive twenty-nine year old lawyer--Thomas S. Eisenstadt...