Word: shakeout
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Such talk was relatively easy for steel, which had already felt such a shakeout that it had laid off hundreds of workers. But the auto industry was still booming and expected to sell every car it could make this year. To keep making them, while the market is there, it might be willing to undermine Big Steel's stand against raises. That is precisely what happened last year, when General Motors gave the U.A.W. a third round and broke the solid front of Big Steel and General Electric...
...this shakeout in employment was caused by a cut in production; nor was it necessarily damaging to the economy. The years of manpower shortages had brought into the labor force inefficient marginal workers (older people, housewives, etc.) who would not normally have been there. They were being weeded out along with the sluggards" [TIME...
...April (as measured by the Federal Reserve index based on the 1935-39 average) had tumbled another 5 points to 179. The index stood a full 16 points below last November's postwar peak of 195. This was the sharpest five-month drop since the 1945 reconversion shakeout after...
During the current shakeout of the U.S. economy, worried businessmen have anxiously waited for first-quarter earnings; they would be the Scoreboard that would show how well-or how badly-business was batting. Last week, as the first big batch of earnings came out, the scoreboard looked almost as cheerful as a home run in a tight game with the bases loaded. So far, at least, business was batting well: the slump had not been...
...there was no question that the shakeout of inflated prices was spreading and that consumers had tightened up their spending. In addition to cuts in the price of whisky and Ford cars (see below), there were reductions in many basic products, such as lead, zinc, copper, tallow. In its new midseason catalogue, Sears, Roebuck listed many prices anywhere from 10% to 50% cheaper than in its January book...