Word: rollbacks
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...reporter asked for figures showing just how the various segments of the meat industry would be hurt by Di Salle's rollbacks. Admitted Loren C. Bamert, president of the American National Cattlemen's Association: "I raise cattle, and I don't think these regulations will hurt me. Maybe some of the other gentlemen can tell you how they will be hurt." They couldn't. With beef at 152% of parity, asked one newsman, how could the meatmen complain about the rollback ordered by Di Salle? President Allan Kline of the American Farm Bureau Federation answered...
...Rollback In Beef. The most thunderous salvo of the week was fired by Price Controller Mike Di Salle. He ordered an 18% cut (about 5? a Ib.) by next Oct. 1 in the price that may be paid for live cattle. He also fixed dollars & cents ceilings on wholesale and retail beef prices, and set up stand-by machinery for beef rationing (although price officials hastened to say that they saw no prospect of rationing in the near future...
...biggest gripe from businessmen came from those who had gone along with the Government's voluntary rollback in December, then found themselves frozen at lower levels than their competitors. Price Boss Mike DiSalle hoped to fix that too by a new kind of price freeze based on pre-Korea profit margins rather than specific prices. This would permit businessmen to raise prices to meet rising costs. At week's end, it looked as if the "freeze" would not keep wages & prices from going up, but merely slow the rise...
...place Washington-wise Eric Johnston, $125,000-a-year boss of Hollywood's Hays office and ex-president of the U.S. Chamber of Commerce (see below). Before Johnston even got his feet planted under a bureaucratic desk, a freeze of prices and wages and a partial rollback of prices were in the works...
General Motors Corp. last week lost its fight against a rollback of its price increases on 1951 models. To G.M.'s suggestion that the increases be allowed to stand at least until a survey showed they were unjustified, Economic Stabilizer Alan Valentine gave a flat no. His reason: "Earnings of your company in the [third quarter] are running at the reported annual rate of $1.9 billion, as against an annual average rate of $827 million in the best three years prior to 1950." While ESA had "no interest in control of profits arising from increased volume, greater productivity...