Word: cutbacks
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...policy issue rather than a law-enforcement problem. So many Canadians have switched to U.S. brands that the government's tobacco revenue has dropped $8,000,000 this year, in spite of the increased tax rate. Cigarette factories have begun laying off workers because of decreased sales. A cutback in tobacco taxes seems virtually certain in next year's budget, if not sooner. Said the Ottawa Journal: "The government has been given a lesson in elementary economics...
General Motors is the most startling example. Along with other automakers, it complained against auto prices being controlled on the basis of 1950 costs and production rate, arguing that even a slight cutback in auto output (plus the hike in taxes) would bring a much sharper cut in earnings. G.M. was right. Though total sales were actually up slightly over 1950 (to $3.9 billion), G.M.'s net fell 42% to $280 million, its margin of profit from 11% to 7%. The drop, explained Chairman Alfred Sloan, showed the effect of lower passenger car sales, higher taxes...
Harvard has always supported research in obscure fields. Geography, though obscure, is now vital to any large university. The savings accomplished in the 1948 cutback were small, for geography was not an expensive field to maintain after the initial investment, which Harvard had already made. Somewhere in the University's $30,000,000 budget, the Administration should find the additional $20,000 or $25,000 annually to re-establish Harvard as leader in geography...
More material shortages for civilian users-and probably more layoffs-were in the cards. Last week the National Production Authority ordered a 20% cutback in the civilian use of tin for February, said it would again cut the supply of vital cobalt for the radio and television industry. From General Electric Co.'s new President Ralph J. Cordiner came a hint of how much war production would be stepped up in the future. Said he: G.E., whose production is already 22% in war goods, would boost the proportion to one-third or more...
...accomplish the cutback, said the builders, is not by direct price, wage and materials controls, but by credit restrictions. In fact, said the builders, inflation in general must be attacked not by direct controls, but by "higher taxes, the control of credit [and by] stopping all unnecessary Government spending...