Word: marketing
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Dates: during 1950-1959
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Ford plans major changes, hopes in 1958 to add even more to its 30.1% of the market (up 3.5% from last year). Chief Designer George Walker, who has been responsible for much of Ford's long, low styling since 1949, has primped every member of the family to provide something for all pocketbooks and tastes. The new Ford look...
...picture for the rest of 1957 is changing for the better, giving the industry confidence that its price hike will stick as more and more customers who have cut inventories too low begin to place new orders. The industry is also suffering from the nation's tight-money market, and it has to depend largely on profits to finance its ambitious expansion plans...
...mess" when he took office in 1953-and they are still in a mess. Democrats went much farther, cried loudly of a crisis at the Treasury. Reason: in the next twelve months, the Treasury must refinance some $75 billion (28%) of the U.S. debt, and do it in a market where Government bonds are at their lowest level since the Depression, and interest rates are climbing. Last week, to sell $3 billion worth of 264-day tax anticipation certificates, the Treasury was forced to raise the interest rate to 3.485%, highest since...
...trouble is that from the start, Secretary Humphrey's Treasury failed to match the prices other borrowers were willing to pay for money. When the Treasury sold its first longterm, 30-year issue in 1953, it pegged the interest rate at a below-market 3¼% an average 3¾% for corporate issues; the bonds soon became known as "Humphrey's Dumpties," dropped far below par, and still sell at 93.26. A 40-year issue at 3% in 1955 has tumbled to 87.24. The result, says Humphrey, is that "we must therefore sell mostly short-term securities, which...
...billion) of the total U.S. national debt due for refinancing within the next five years, the problem will get worse unless something is done soon. Many bankers argue that the Treasury should have moved much faster to keep U.S. Government securities rates in line with the overall money market. By hiking rates a fraction at a time, always too little too late, Secretary Humphrey has, in effect, guaranteed the failure of long-term issues. He has also increased the margin between Government and corporate bonds instead of narrowing it. On a straight interest basis, Government bonds paid as much...