Word: presidentitis
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Dates: during 1960-1969
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> Vice President Agnew attacks the networks, 1969.
The consumer caution is due not only to inflation but also to growing uncertainty over the economy. Last week's figures disclosed continuing November declines in industrial production, housing starts and workers' purchasing power, distressingly combined with consumer-price increases that were running at a 6% annual rate...
Nevertheless, many retailers expect their gray Christmas to be followed by sluggish spring sales. Lawrence Goodman, a vice president of Korvette, offers a bit of cheer for the consumer: "There will be great buys in January" -when stores mark down the goods that they failed to sell before Christmas.
Around the Portage Country Club in Akron, Ohio, conversation these days is anxious, subdued, and addressed to one topic: dismissals of executives and white-collar workers at B. F. Goodrich Co. Since September, the fourth largest U.S. tiremaker has quietly retired or fired several hundred employees, including one vice president...
Goodrich's profits have lagged behind those of its prime competitors. Last year the company earned only 3.9% on sales of $1.1 billion, compared with 6% for the industry's most profitable major operator, Firestone. After Northwest's takeover attempt, Keener, who was paid $240,000 last...