Word: rating
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Dates: during 1950-1959
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...Corp. and two other small steelmakers, the steel strike is biting deep into the U.S. economy. Steelworkers have lost $1.1 billion in wages; steel companies, $3.3 billion in sales; the Government, $710 million in taxes; the nation, 30.9 million tons of steel production. The Commerce Department estimated that the rate of the gross national product dropped $3.5 billion in the third quarter. An index of the eight key economic barometers fell farther in the first three months of the strike than during the first three months of the 1957 recession. The U.S. faced widespread shutdowns in industries that depend...
...wage slash. Despite the wide gulf in wage proposals, however, the big fight will still be over union featherbedding. To eliminate featherbedding, the rail companies asked the rail unions to: ¶ Extend the basic day's mileage pay from 100 miles to 160 miles. The 100-mile rate was established in 1919, when freight trains averaged 12½ m.p.h., passenger trains 20 m.p.h. Today it means that a railroader can do his day's work in as little as two hours. ¶ Wipe out the distinction between the work performed by road crews and yard crews, thereby allowing...
...split announcements last week there was a standout: Westinghouse Electric Corp. With the company's nine months' earnings soaring ($3.17 per share v. $2.79 in 1958) on only slightly higher sales than last year, its directors recommended a two-for-one stock split, boosted the annual dividend rate from $2 to $2.40. For Westinghouse, the nation's oldest (73 years) and second largest electrical equipment maker (first: General Electric), the split climaxed a three-year drive to reorganize the company and recover from a crippling five-month 1955-56 strike...
...rise was viewed without alarm by the nation's bankers. The A.B.A. found that the increase has not brought any decided boost in interest rates since June. Even though the prime rate on business loans has been raised to 5%, most banks said that they were keeping installment rates at about the same levels as early in the year. The Chase Manhattan Bank, in its bimonthly letter, also saw no danger in the increase in installment loans. Although the rate of installment credit is growing faster than in 1955, said the Chase Bank, consumer income is now larger. Despite...
David v. Goliath. In daring to challenge Goliath IBM, Callies and Vieillard know that they are still in point of present gross (estimated for this year at $35 million) a pretty small David. But they count on the fact that they are showing a fast sales-growth rate. Annually since 1946, their exports have risen 25%. Last year they shipped $18 million worth of equipment to customers in 42 countries. Of that, $9,000,000 went to countries in the dollar area...