Word: peoria
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...break came as shortages were putting heavy pressure on management. In Peoria, Caterpillar (tractors and earth-moving equipment) announced layoffs of 11,500 men at three Illinois plants and in San Leandro, Calif. In General Motors' parts plants, there were widespread layoffs. The corporation also said that it will have to begin closing many assembly plants, starting with Chevrolet the first of October, although it thought it could keep some Chevy plants running to Nov. 1. Chrysler said it will start shutting down in November. Even Ford, which makes 40% of its steel at the integrated Rouge plant, expects...
...businessmen, the newest problem at home and abroad is foreign competition. Inland Steel's President John F. Smith Jr. told stockholders: "A Peoria house builder can buy a keg of Belgian nails for a dollar less than from a local mill''-even after shouldering shipping and insurance costs and paying the U.S. tariff...
...resistance. In the old days, before the show-business community decided that honest sheets such as Variety deserved a little support, Variety salesmen were forced to practice the hard-sell, often found it even harder to collect. Many a buck-and-wing team was trailed from Times Square to Peoria before its bill was paid...
...Appointed Bishop William E. Cousins of Peoria, Ill. archbishop of Milwaukee to replace Archbishop Albert G. Meyer, who was transferred to Chicago (TIME. Oct. 6) to succeed the late Samuel Cardinal Stritch. Milwaukee's new archbishop, 56, a native Chicagoan, was auxiliary to Cardinal Stritch from 1949 until...
Even at the worst of the recession, there was no overall pattern of woe. New England, with its troubled textile industry and heavy manufacturing, was sorely tried. Many of the Midwest's one-industry towns had some rough months. In Peoria, Ill., where Caterpillar Tractor is not just a barometer of business but the whole weather bureau, 9,000 men were out of work until Cat worked off its big inventory of bulldozers and earth movers. But at the same time, South Dakota's farmers were so thick in clover that tax receipts ran 10% higher...