Word: downturns
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Dates: during 1970-1979
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...recession will be fairly mild and brief, and the market will be slowed only temporarily by the crimp that a downturn would put in corporate earnings...
Over the two-year period of heated debate on the morality and justifications for Harvard's South Africa-related investments, IBM remained Harvard's number two investment, and Ford and Eastman Kodak were dropped from the top ten. Harvard decreased its investments in Ford because of a downturn it predicted in the auto industry and demoted Eastman Kodak to an "average investment" over the two-year period because of the costs of the company's stock. The principal reasons for the movement of the two stocks were not, Walter M. Cabot, deputy University treasurer, says, considerations of the companies South...
...sales of these relics have, in lacocca's words, "been dropping like a rock." In this year's second quarter, unit sales were down 28% at Chrysler, compared with 27% at Ford and 15% at General Motors. GM and Ford, being bigger, are better able to withstand downturn. Also, they normally manufacture cars only after dealers order them; alone among the Big Three, Chrysler until recently produced autos essentially on speculation and then tried to market them to dealers. Because its dealers' lots are overflowing with slow-selling cars, Chrysler has been forced...
...history has arrived earlier and with a more forceful jolt than expected. Instead of the gradual slide that economists were predicting would begin in midsummer or early fall, the second-quarter gross national product fell at a substantial annual rate of 3.3%. Most forecasters had anticipated that the downturn at worst would bring a decline of 2% or so. In a confidential revised forecast last week, some top governmental economists conceded that the slump will be worse than anticipated this year and will be followed by an "anemic" recovery...
Most nongovernmental experts agree, but practically none foresee a downturn as severe as the 1974-75 recession. In their view, the sharp rise in oil prices by OPEC significantly aggravated and speeded the onset of a recession that was inevitable...