Word: detroit
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Dates: during 1950-1959
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With production high and unemployment low (4% of the work force), the forecasters see good business ahead. Tight credit may cause the housing industry to slip slightly to a rate of 1,200,000 homes. But Detroit's automakers have visions of a 7,000,000-car year in 1960, with 18%-20% of the market in the compacts. Steelmen forecast a total of 125 million tons of steel next year, up nearly 35 million tons. Borg-Warner's Norge Division President Judson Sayre expects big increases in the appliance industry-8% for clothes dryers, 10% for refrigerators...
Crocks of Granite. In Detroit, while fire blazed in the kitchen of Frank Collins' Bar, while the building filled with smoke, while firemen dragged hoses through the barroom and water sloshed on the floor, seven steady customers refused to budge from their bar stools...
...kind of international commission was being formed, to concentrate on devising coordinated aid programs for one key area -India and Pakistan, where nearly 500 million people live. The commissioners would be top-drawer private bankers-for the U.S., perhaps Chase Manhattan Bank's John J. McCloy or Detroit Bank & Trust Co.'s Joseph M. Dodge; for Britain, Sir Oliver Franks; for West Germany, Chancellor Adenauer's influential banker friend, Hermann Abs. Perhaps Jean Monnet would be added from France, and Escott Reid from Canada. In time, Japan might also be asked to chip in. The idea would...
...Detroit society was bracing itself for the most glittering, opulent blowout in the city's history. Four days before Christmas, Car Czar Henry Ford II and wife Anne will play host to some 1,000 guests at the Country Club of Detroit, which will be extensively redecorated, just for the evening, to provide proper dash and elegance for a ball whose theme will be 18th century French. Occasion: the coming-out of their daughter, Debutante Charlotte Ford, 18. The guest roster is a Who's-Really-Who of U.S. business, upper-crust society and showfolk, with a suitable...
Automobiles. Detroit is upping its estimate that 6,500,000 to 7,000,000 cars will be sold in 1960, including half a million imports, said W. C. Newberg, executive vice president of Chrysler Corp. No one is now thinking of a range much below 7,000,000 units. Reason for rising optimism: the large number of sales deferred by this fall's steel shortage, plus "the excitement over the new economy cars that has helped to stimulate sales in all other price classes...