Word: dow
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...Left was just starting to harvest its biggest crops of the newly radicalized. Draft cards and American flags went up in smoke. The Spring Mobilization to End the War in Viet Nam brought together hundreds of thousands of protesters in San Francisco and New York. Dow Chemical's recruiters were driven off campus. Ahead for the movement lay Woodstock, Chicago, Kent State, the Days of Rage...
Earlier this year, as the economic recovery picked up momentum, some savvy Wall Street professionals were predicting that stock prices would zoom and the Dow Jones industrial average would easily soar beyond the peak of 1,051.70 it reached in 1973. So much for savvy. Since January the stock averages have wobbled and worried their way down steadily. Last week the 1977 market's peevishness turned into something approaching panic, as a selling stampede slashed share values and drove the Dow down to its lowest level in 18 months...
...week, when both Exxon and U.S. Steel announced lower second-quarter earnings. Then on Wednesday came a shocker from Bethlehem Steel, which reported an operating loss of $75.4 million for the first half and cut its dividend. With that, the slide turned to slaughter: in frantic trading, the Dow plunged almost 20 points. For the week, it closed down 33 points, at 890.07, almost 10% below its January level...
...pickups by affiliate stations across the country. The two major U.S. wire services, Associated Press and United Press International, feed news from New York headquarters to more than 16,000 U.S. and foreign newspapers, radio stations and TV news desks. Scores of New York-based syndicates, ranging from Dow Jones and King Features to Hearst and Fairchild, also transmit daily features (political columns, advice to the lovelorn, gardening tips and much, much more) by electronic impulse to thousands of clients. When the dynamos serving New York went dead, so-at least briefly-did a large portion of international communications...
...delighted to learn that the chairman of Dow Chemical made nearly half a million dollars in 1976. I'm sure he's worth every penny of it too. My only question is: What did his secretary make...