Word: pricing
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Dates: during 1960-1969
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With that observation in mind, McCracken will probably emphasize the utilization of adjustments in the money supply to stimulate or restrain the economy. One of his thorniest economic problems, of course, will be inflation. Any concerted drive to stop the price spiral would involve deflationary steps that could increase unemployment. McCracken would probably be willing to see the jobless rate rise slightly above the current 3.6% in order to cool the feverish economy. But he is unlikely to tolerate the 5%-plus rate that some economists and businessmen think is nec essary. In a recent speech, he noted that...
...strong; output has climbed for four straight weeks. Sales of 1969-model autos have been racing at a record annual rate of 10.3 million cars (see story, p. 94). New factory orders rose 4% in October, the biggest improvement this year. Sales of new houses are increasing despite punitive price tags and pumped-up mortgage rates. Housing starts will probably rise from 1,290,000 in 1967, to 1,500,000 this year. Building-industry analysts anticipate about 1,700,000 in 1969 and a record 2 million in 1970.-At the same time, installment credit is ballooning...
...Privileged Customer. Erratic manufacturing quality control and increasingly complex parts result in cars that break down far too often. The price of replacement parts rose 52% from 1960 to 1967. At last week's hearing, the Senators were particularly disturbed by the discrepancy between prices for work covered by auto manufacturers' warranties and prices on nonwarranty jobs. The automakers pay for the warranty work and they allow the repairman only a 25% profit margin. But on other repair jobs, the markup runs 40% and more. Garages also tend to offer discounts to such big customers as insurance companies...
Lowell is also performing creditably on the hardwood, with decisions over Eliot and Kirkland. A hungry Quincy team--featuring Bruce Price, Tommy Harris, and mighty Ron McCullough--defeated Lowell but lost a heartbreaker to Kirkland, 65-64, in overtime on Wednesday to drop to a 2-1 record. Quincy could be the sleeper in this league...
Less excitement is being generated by the squash competition, but Quincy's athletic secretary, Doug Bromley, said, "We have three outstanding boys in Bruce Price, Rick Barton, and Dave Patterson. They're real good ones, and we expect to see a lot of them in the future...