Word: expectability
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Dates: during 1950-1959
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...anything. Egghead Gibbons' committee appearance proved only that pretensions to learning can be a dangerous thing. Alternately arrogant ("I cannot be responsible for the inadequacies of your staff") and evasive ("Don't expect me to say yes or no in this instance"), Gibbons left the stand to rejoin the high-binding band that conducts Teamster affairs. It was very unlikely that smooth-talking Harold Gibbons would ever field another invitation to lecture at Harvard...
...steel industry's scheduled operating rate also continued to climb for the eighth straight week, reached 63.6%, highest since June 16. Steelmen expect the rate to rise to about 70% as inventories are rebuilt and construction awards are translated into more orders for structural steel, which hit the highest level in July in 14 months. Steel stocks paced the market; U.S. Steel hit a historic high of 75⅝. Department stores also reported that sales rose 3% over a year...
...good shape for recovery without returning to tight money. Banks have plenty of credit available for businessmen. Despite the Fed's action, free reserves are well above $350 million, where bankers consider that credit begins to tighten. Though short-term interest rates have improved, most bankers expect the prime rate to hold at 3½% for some time because there is still no big jump in industry's demand for money. Business loans, which dropped $1.8 billion in the first half of 1958, show only slight signs of picking up. Said one Manhattan banker: "There is still inventory...
AUTO SLOWDOWN is hitting Detroit just as 1959 production starts. Some 5,600 United Auto Workers left jobs in five plants last week in worst labor trouble since industry's contracts expired three months ago. Companies figure U.A.W. President Walter Reuther is flexing his muscles, expect more brief strikes...
...money, borrowed the rest from German banks, got the big Hamburg-American Line (which has 41 freighters, one passenger ship) to manage the Hanseatic. In a poll of transatlantic traffic, they discovered a trend to tourist-class travel, shrewdly made the 1,254-passenger Hanseatic 93% tourist class and expect full booking...