Word: pricing
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Dates: during 1960-1969
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Amidst the usual glitter, most of Detroit's 1969 model cars have already been unveiled. Now the price tags are coming along. The first to present its new cars, Chrysler Corp., last week was also the first to present the bill that goes with them. In its fourth hike in three years, the company announced that, on the average, its 1969 cars will cost $89 more...
...year of bliss for the American economy it will not be 1969." Predicting that consumers will soon slow their heavy buying, Okun forecast a gradual slowdown of economic expansion. Along with that, he said, will come a rise in unemployment, a profit squeeze on business, and continued but smaller price increases. Painful though that prospect is, Okun and many other experts on NICB's rostrums agreed that it is the minimum price that the U.S. must pay to put its economy into balance...
...White House's Arthur Okun promptly called the increase "manifestly excessive" and "a severe setback to the cause of price stability." He said: "We urgently request the other automobile manufacturers to head off this dangerous inflationary threat." President Johnson added his own warning: "If this price increase prevails throughout the industry, it will take three-quarters of a billion dollars out of the pockets of American families...
Washington can do little more than wag a finger. Earlier this year, President Johnson succeeded in rolling back Bethlehem Steel Corp.'s price boosts of almost 5% with threats of diverting Government steel orders. The Administration has no such leverage over the car industry. Instead, it must count on the keen competition among automakers themselves to do the job of keeping prices down...
Fall into Line. In the past two years, Chrysler announced price tags for new models, then scaled them down when the industry pacesetter, General Motors, announced lower price hikes. Both G.M. and Ford are planning to post their own new lists this week, and inflation watchdogs in Washington expect increases of about one-third of Chrysler's. They hope that such competition will force the No. 3 carmaker to fall into line once again. To help matters along, Okun and other top Administration people huddled last week with executives of both General Motors and Ford, including G.M. Chairman James...