Word: downturns
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Dates: during 1970-1979
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...almost uncannily similar to 1977-a solid though unspectacular growth in production, incomes and profits, another strong rise in the number of people working, but no great reduction in unemployment. Inflation will speed up from its current pace, and that and other factors could set the stage for a downturn in 1979 or 1980. But for the next twelve months, TIME'S board members unanimously agree with Arthur Okun, a senior fellow of the Brookings Institution: after 2% years of recovery from the 1973-75 recession, "there is one more year of good news in this expansion...
...President's nine months in office, the economy has in fact performed quite well. But in the past few weeks, economic growth has slackened, the unemployment rate has stubbornly refused to edge downward, and inflation has begun to pick up speed-not enough to justify fears of a downturn but enough to convince many economists, bankers and executives that Carter still has no clear idea as to what to do about the economy...
...spiral and the companies marked up the selling price of imported oil that had been brought into inventory before the prices rose. As much as $5 billion in windfall profits resulted. This happened at a time when the rest of the economy was plunging headlong into the worst economic downturn since the 1930s, and such cynical profit taking gave the oil companies a black eye. Few can forget how, in their annual reports for 1974, the oil companies showed hefty increases in their profits over the preceding year: Exxon up 28.6%, Gulf up 33%, Mobil...
...Laker concerned about his IATA competitors? No, to listen to him. Says he with a chuckle: "If Pan Am wants to dilute its earnings and go broke, why should I worry?" In fact, Pan Am seems likely to survive. After eight years of losses caused by a recession-induced downturn in international air travel at a time when it had spent heavily on new jumbo jets, the airline is now apparently on the mend and has reported its first profits for the month of May since...
Weiger also enlivened Midas' sleepy travel-trailer business, which the company acquired in 1965. The fuel crisis that followed the 1973 Arab oil embargo dealt recreational-vehicle sales a heavy blow, but Weiger took advantage of the downturn to mass-purchase chassis and their components. When the shortage passed, Weiger opened a 130,000-sq.-ft. manufacturing and assembly operation in Elkhart, Ind. He promoted the star of Midas' 30-model trailer, camper and motor-home lineup: the Midas mini-motor home, known as a Chopped Van. Midas buys the cab and chassis of a GM, Ford...