Word: lower
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Dates: during 1960-1969
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...corporate executive might wish that stockholders would believe the figures did not really count. Though hopes were high that the chart lines would soon be moving up, the news in the latest batch of reports was largely negative. Profits had been caught between higher labor and material costs and lower consumer demand. The Wall Street Journal, surveying earnings of 528 companies, found that their aftertax profit for the second quarter was 8.1% lower than last year's. In a similar survey of 500 corporations, the New York Times tabulated a 5.28% half-year drop...
...TRANSPORTATION. Railroads, even recently lucrative ones, showed a drop for the quarter. The Pennsylvania Railroad and the New York Central, still waiting to merge, each had lower earnings for the half-year (although the Central managed to move out of the red in the second quarter), while a drop in car-loadings affected healthier lines like the Norfolk & Western, Southern Pacific, Union Pacific, and the Atchison Topeka & Santa Fe. Airlines were mixed...
...bother; but many manufacturers spend as much as $50,000 for an endorsement from a big-name performer or a music center. The struggle for the mass market has stiffened with the entry of low-priced Japanese models. Even now, before the Kennedy Round tariff reductions, which will lower duties from 17% to 8%, Japanese grand pianos sell for one-fourth the price of domestic models. Their U.S. sales climbed from 6,219 in 1964 to 9,263 last year...
Anticipating growing competition, Aeolian in 1951 moved Ivers & Pond south to Memphis and built the company's largest and most modern piano plant. It was close to the supply of high-grade wood, opened untapped markets, and, for a while at least, labor costs were considerably lower. Nevertheless, even a low-priced piano takes about six weeks to manufacture, while a more expensive one can take up to six months. As President Henry R. Heller Jr.-the grandson of the company's co-founder-puts it: "We can mass-produce to a point, but when you reach...
...orgy is expected to be brief, but the consequences of last week's decision will not be. Doctors and dentists are already complaining that cheaper candy will broaden waistlines and decay teeth. Beyond that, lower supermarket prices will probably mean an end to many of the 60,000 little neighborhood shops, which include sweets among their sundries, and last year accounted for 48% of Britain's candy sales. Most important, the candy case is the first in a series on the docket of the Restrictive Practices Court. The court is now scheduled to rule on price fixing...