Word: shakeout
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Dates: during 1960-1969
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Sails on the Horizon. Though the U.S. boating industry is currently in the throes of a major shakeout-sales this year are 25% below the 1960 level-Chris-Craft is faring relatively well. Coll expects that sales for the fiscal year ending Aug. 31 will reach $43 million, a decline of 8% from the previous year. Chris-Craft has opened a sales subsidiary in Lausanne. Switzerland. With its exports to Europe running 56% ahead of last year's, the company plans to set up its own European factory, possibly in Italy...
After years of a live-it-up boom, Miami Beach's hotel industry is suffering a thoroughgoing shakeout. Nor is the trouble confined to Miami Beach. Throughout Florida, restaurants and lodging places have been changing hands at the rate of one an hour. If the trend continues, reports the Florida Hotel and Restaurant Commission, about 15% of all such establishments in the state will have new owners by year...