Word: dropoffs
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Dates: during 1970-1979
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...unsold cars last week stood at 69 days, a record tempered only technically by the fact that the figure is based on current small daily volume and could shrink rapidly if the pace picks up. Ford, with a 50% third-quarter profit decline and an early November sales dropoff of 36%, is also reducing its work force; layoffs could reach 54,000, including at least 3,000 white-collar staffers in Dearborn. GM's layoffs now total 53,000, and last week the company said that it would close nine plants for part of December, idling 30,000. Reason...
Though evident only for the two months since 1975 models were introduced, the drastic dropoff in the nation's bellwether manufacturing industry is al ready threatening the recession-plagued economy. The auto slump is stirring fears among economists that sales of such smaller-ticket items as appliances and television sets are in line for further declines as the ripples spread throughout the economy. But the first to feel the effects of a prolonged slump would be steel, rubber and glassmakers, whose products go into automobiles (see diagram...
...Dartmouth won the race, helping his team to an overall Carnival win. Two Middlebury freshmen swept second and third, just a tick of the timer ahead of Harvard alpine captain Ben Steele. The old lady was at least as respected as fate, so course setter Howard Kelton bypassed the dropoff which led to the NCAA accident last year, but there was no ice to worry the racers this time anyway. The old lady teased everyone with a fabulous 8-inch snowfall of white powder two days before the Carnival, then come race day she decided to wash it all down...