Word: marketing
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Dates: during 1960-1969
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Booby-Trapped Melons. The commandos were busy last week behind Israeli lines. In Hebron, a grenade was tossed into a truckload of sightseers. A bomb hidden in a paint can went off in Tel Aviv. A synagogue was blown up in Kfar Saba. In a Haifa market, a 17-year-old youth tugged at an odd-looking object embedded in a watermelon and triggered an explosion; police found several more booby-trapped melons near by. In all, terrorist action killed one and wounded 13. Against this background of violence, Israeli Prime Minister Golda Meir called for adherence to the cease...
Margin Calls. Inflation usually stimulates the stock market, but Washington's anti-inflationary moves are now badly hurting shareholders. The Dow-Jones industrial average has dropped more than 150 points since it reached the year's high of 969 in May. Last week it fell precipitously, closing at 818, lowest in 21 years. Many speculative stocks have been cut in half. The mutual funds are sitting on the sidelines, holding tremendous sums of cash and waiting for the market to hit a bottom. The slide has forced some brokers and bankers to make margin calls...
...timing and steepness, the Dow's 16% decline so far this year bears a chilling similarity to the 1966 plunge, when the index declined 25% from February to October. Could history repeat? Both market slides began with worries about overspeculation and increases in bank interest rates. There are, however, important differences. In both 1966 and 1969, the Federal Reserve Board tried to control the expansion of credit by restricting the money supply. But in 1966, the board moved clumsily, swerving at midyear from monetary expansion at a 6% yearly rate to contraction at a 2% rate. Credit evaporated, investor...
Disheartening Earnings. The stock market faces some problems it did not have in 1966. Investors are worried about the likelihood of higher taxes on capital gains and a reduction in the oil-depletion allowance (see THE NATION). Corporate profits are another disheartening factor. Earnings remained at record levels all through the 1966 market slide. This year most companies reported rises for the second quarter, but there have been some major exceptions, notably in steel, autos and airlines (see following story). Compared with the second quarter of last year, earnings fell 17% at Kaiser Industries, 17% at General Motors...
...cases more than 1,000%. "Many a house was built on the profits that people made from 1961 through 1966 in their airline investments," says Bache & Co. Analyst Henry Siegel. Now the airline stocks are no longer the high and the mighty. They are among the leaders in the market's decline, down as a group by 37% since the beginning of the year. The drop is accelerating: the index of air stocks fell by a startling 11% in five trading days two weeks ago and again by 6% last week. TWA, Pan American and Western Airlines skipped their...