Word: scrappings
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Dates: during 1970-1979
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...families have vacationed together, and Whyte's younger son Roger has dated Ford's daughter Susan. Whyte says that he and Ford are "pro-free enterprise." Among his opinions: new wage-price controls would hamper steel production; the U.S. should "close the gates" on exports of steel scrap (presumably because they tend to keep supplies down and prices up at home); it would be a "tragedy" if the U.S. reimposed an embargo on imports of Rhodesian chrome; and there is only one way that American industry can raise the capital it needs to expand-"more profits...
...Scrap Plans. Nixon said that he will seek to hold federal spending for this fiscal year to about $300 billion, or about $5 billion less than present esti mates. But beyond promising to eliminate 40,000 of the Government's 2.8 million jobs he gave no hint of where the cuts would be made. Nixon announced that he has ordered a "sweeping review" of all federal regulatory agencies in order to scrap old rules that hamper production. He said that the nation must "reevaluate" environmental and safety laws, which many businessmen have criticized as being too costly. In private...
...their own. Still, most Freeling fans may wonder if much is gained by introducing the new hero. A Dressing of Diamond is likely to send them figuratively off to Strasbourg to stone the author's house and shout, "Bring back Van der Valk!" The judgment may be a scrap premature. Freeling is not quite the chameleon poet of crime he thought he was, but he remains a writer worth waiting...
Moneymen are also cheered by a recent sharp plunge in some commodity prices. Wheat, for example, dropped from $6.11 per bushel in February to $3.62 last week, beef cattle from $46.25 per hundredweight to $38.90, and steel scrap from $115 per ton to $100. If these drops continue, economists believe, corporations will stop scrambling to borrow in order to stockpile raw materials. Indeed, they may sell off some of their present inventories and start repaying their loans...
...good news was confined to a 3% drop in wholesale farm-product prices, which should lead to a welcome decline in some retail prices within the next few weeks-but many economists believe that the downward pressure on food is about spent. Industrial products ranging from iron and steel scrap to lumber, cotton, man-made fibers and animal hides rose an average of 2.3% in April, a figure that almost equals the torrid pace set earlier this year. Overall, the wholesale index in the past three months has risen at a compound annual rate of 13.5%, a sure sign that...