Word: dealers
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Dates: during 1950-1959
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WEINBERG'S slum background contrasts so sharply with that of the traditional Ivy League Wall Streeter that he uses it as an asset, plays up his Brooklyn background ("I'm just a dumb guy from P.S. 13"). One of eleven children of a wholesale liquor dealer, he never got farther than P.S. 13, started with Goldman. Sachs as a $3-a-week porter's assistant. After a World War I stint in the Navy, he became a securities trader, a Goldman, Sachs partner in 1927, helped to run investment trusts, including Goldman, Sachs Trading Corp., which proved...
Hubert Humphrey masterminded his-Minnesota Democrat-Farmer-Labor Party to a sweeping 1958 victory (TIME, Nov. 17) and still managed to roll up 20,000 miles campaigning for Democrats in i& states. He is an avowed Fair Dealer, but separates himself from past liberal flops by explaining that he is a "visceral" liberal-strong on farm supports, reclamation, competitive coexistence with Russia, civil rights, etc.-as opposed to an "intellectual" or "New York" liberal - inter ested "only in civil rights and immigra tion." As a Senator. Humphrey has worked hard and with some success at winning the regard of conservative...
...question in the economy is still the auto market. Auto dealers reported demand for the new cars still running from 25% to 50% over last year. Ford has twice as many dealer orders now as a year ago, Buick three times as many, and Plymouth is up 16%. But there are still not enough cars to meet demand and get a true picture of the market. Last week, to make matters worse, a five-day walkout of white-collar workers at Chrysler Corp. forced a 63% slash in output, and Rambler stopped production after the Budd plant at Gary...
...shortage continues much longer, many a dealer fears he will lose sales. Some of the more optimistic have already lowered their sights. "We had a terrific reception to the new models," says John Bugmire, general manager of Atlanta's Nalley Chevrolet. "This shortage hurts badly." Pontiac Dealer A. E. England of Hollywood, Calif, said that "You can't firm an order when you haven't got a model to show," and Irving Esserman of Chicago's Esserman Motor Sales, a large Chrysler-Plymouth dealer, said flatly that "We're being strangled by the shortage...
...some automakers expected to work at peak output for at least three months. Output this week is scheduled at 107,000 cars, highest of the year. Ford has already sold 100,000 new models, more than 10% of its 1958 model sales. Plymouth is 100,000 cars behind dealer orders. Chevrolet will not be able to catch up on orders for at least two months. American Motors Corp. broke all its previous production records, has nudged out Pontiac to become No. 6 carmaker with 159,000 cars produced so far this year...