Word: downturns
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Dates: during 1960-1969
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...most powerful banker: "It is the noblest right of the banker to say no when he considers the risk exhausted." Abs next took the problem to Bonn. Schiller stepped in quickly, fearing that a crisis at Krupp (annual sales: $1.2 billion) would deepen Germany's economic downturn...
...week that the nationwide sag in retail sales persisted in January, while its index of overall industrial production fell by a full point to 157.9% of its 1957-59 average. Factory orders for durable goods dropped by a worrisome 5.1%, to the lowest level in 15 months, as the downturn spread to transportation equipment, primary metals and even machinery. "The economy," said Treasury Secretary Henry H. Fowler in the understatement of the week, "has moderated very substantially...
...West Germany's deepening business downturn, few areas of the economy have suffered more than the auto industry. Production, which increased 12% in 1965, rose a bare 3% last year (to 3,000,000), and automakers entered 1967 with a worrisome 360,000 unsold cars. So severe is the slump that mighty Volkswagen, fourth largest automaker in the world (after the U.S. Big Three), is learning to think small again. Off Volkswagen's assembly lines at Wolfsburg last week rolled the first of its new Model 1200 sedans, which VW executives call the Wirtschaftskrise...
...been disrupted because the banks were cashing in, is recovering. Money will remain very scarce despite the board's action last week, but it is a signal that the Federal Reserve's concern about the dangers of inflation is now balanced by its recognition of the downturn hazards for the economy if money is kept too tight...
...before Fairchild's precipitous downturn, the Argus Research Corp. reported gloomily on the future of electronics stocks to 75 brokers and institutional investors. Not only were shares overpriced, but Argus reported that there was a hint of over-inventory. Advancing technology had cut the cost of making microcircuits, but the savings had not yet been passed along to customers; for weeks there had been suspicions of an impending price slash, which presumably would be reflected in lower earnings. Morning after the Argus report, a big mutual fund, with its own pessimistic conclusions about Fairchild, offered a block...