Word: detroits
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Dates: during 1950-1959
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After a miserable January, sales rose in late February, and are still climbing in March, with some dealers reporting business 100% better than last month. These increases encouraged dealers to hope that the bad winter weather was as responsible for poor sales as all the complaints about Detroit's 1958 cars. One all-inclusive gripe, from Economist Slichter, who drives a 1951 Ford and recently refused to buy a 1958 model: "They are inconveniently long, inconveniently wide, inconveniently low, wasteful of gas, expensive to maintain, clumsy and ugly...
...businessmen, is the organized labor philosophy that good business or bad, wages-and thus prices-must go up every year. Therefore, steelmen refuse to cut prices, not only because they say it would not improve business, but also because they face an automatic 7% wage increase next July 1; Detroit refuses to lower auto prices largely because it must renegotiate auto contracts this summer, expects that it will have to grant the U.A.W. a boost...
...wages and prices until this thing is over." The Government can be of some help, though such highly publicized recession cures as a speedup in public works are overstated benefits. "A new post office in Podunk doesn't do much for the skilled man who is unemployed in Detroit." More important, said McDonnell, who once argued that the best way to halt inflation in the U.S. economy was to increase taxes on incomes below $5,000, is a program of "sensible tax reforms." McDonnell wants temporary tax relief for all income groups and for corporations as well. Only then...
Last Rites. In Detroit, Liberty Sam Lalomia, 39, told a judge he was planning to get married, received court permission to drop his first name...
CONRAD HILTON will put up two-story, 300-room airport hotels throughout U.S. He has leased land near San Francisco International Airport, is dickering for lease in Los Angeles, has plans for New York, Chicago, Detroit, Boston, New Orleans, Miami, Seattle...