Word: rollbacks
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Going well beyond that analysis, Presidential Adviser Joe Califano pronounced Big Steel's action a "major victory." Just seven days after Bethlehem, the No. 2 producer, announced its price hike, the steel industry had been forced into a partial "rollback." Minutes after U.S. Steel announced its move, Arthur Okun, chairman of the President's Council of Economic Advisers, summoned reporters to his Washington office and pronounced himself gratified. Spread industrywide, Bethlehem's increase would have filtered through the economy as a $1.1 billion rise in consumer prices. Now, he said, "the American consumer has been saved...
...else fails, Johnson is counting on the realities of the marketplace to force a rollback in steel prices. After all, higher prices figure to make it even more difficult for the industry to compete with low-priced foreign steel. Nor will they help steelmakers in their efforts to drum up business during the general economic slowdown expected during the next six months. "We hope," said Johnson, "the competitive factors will, as they have in the past, bring about a readjustment on the action that the Bethlehem company has taken...
...Alcoa shrugged off the Administration's price-hike rollback of October 1965, came through 1966 with sales up 18%, profits up an astonishing 40%, to $106 million. Alcoa, the world's largest aluminum producer, last month led the industry to a modest price increase, which President John D. Harper insists is necessary to give the ebullient industry one thing it lacks: "a more adequate return on invested capital...
...loss of support in some quarters as a result of his decision, for a few watchmakers and glass producers will be adversely affected. Generally the move should be beneficial, and some Washington officials estimated that U.S. exports will be increased by $70 million as a direct result of the rollback, thus adding a worthwhile corrective element to the U.S. balance of payments position...
...Ford led the way in announcing auto price increases, only to be forced into a rollback when General Motors followed with a less expensive list. After that embarrassing experience, Ford was pretty much content to wait until G.M. had set the industry's price standards...