Word: cutbacks
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Dates: during 1960-1969
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...sale of the Times continues the cutback of the Hearst chain since control of the empire passed to Hearst Corporation President Richard Berlin after the death of William Randolph Hearst in 1951. More interested in profits than press power, Berlin got rid of the Chicago American and the Pittsburgh Sun-Telegraph, merged the San Francisco Call-Bulletin with Scripps-Howard's San Francisco News. Says one Hearst executive: "For years our strong papers-Baltimore, San Antonio, Seattle, Los Angeles-have been drained by losing operations. In the last two years we have decided on concentrating our resources in those...
...ALUMINUM CUTBACK looms unless orders and sales for the metal turn up, warned Reynolds Metals Co. president, Richard S. Reynolds Jr. His company has already cut back capital spending, soon may slow market and" new-product research. In the first half of 1960 Reynolds' earnings fell to $13 million and 66? per share v. $21 million and $1.10 per share the first half of last year...
HIGHER PORK PRICES are expected this fall following farmers' 16% cutback in the spring pig crop in widespread rebellion against last year's low prices...
...rose 10% over April to $4.5 billion, but was still 5% lower than May last year. Construction spending for the year so far: $19.6 billion, 2% below the first five months of 1959. ¶ Freight carloadings declined for the third week in a row, largely because of the cutback in steel production. ¶ Machine-tool orders dropped sharply, continuing a downward trend...
...encouraging. In addition to a drop in new orders (see below), carloadings and department-store sales fell, probably because of bad weather, and industry reported that January orders and shipments of machine tools dropped from December. But the news was not completely black. The auto industry, despite a cutback in production, reported that February sales of 480,000 cars were 6% above January, 14% above last February. More important, February's final third chalked up a 20% sales hike on a daily rate basis over the second third...