Word: shrunk
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...move should please customers, who often have five different Big Steel salesmen calling on them, but, more important, it will trim the company's costs by eliminating a great deal of duplicated effort. Big Steel hopes that it will help increase profits, which have shrunk from 9.5% of sales in 1957 to 4.7% last year. Reorganization will also mean fewer white-collar jobs. In the past two years, U.S. Steel has trimmed its office payroll by up to 30% ; the estimates are that the latest move will lop off another...
Ireland is the only nation in Europe whose population has shrunk in that time. While Irishmen left the country in waves, they entered it in a trickle, for Ireland has the lowest marriage rate, and one of the lowest birth rates, in all Europe. To the Neo-Malthusian, the Irish would seem models of ecological balance. In a country where food production is barely increasing, 66% of all Irish males between 20 and 39 are bachelors, and vast numbers of men and women die single...
Harvard's endowment income had shrunk in importance as a means of meeting the College's annual budget--from 42 per cent of the budget in 1931 to 27 per cent in 1956. Teacher's salaries, though higher in dollars, were actually lower in purchasing power than those received in 1930, a disturbing reversal of the trend in business and other professions. After remaining constant for 25 years, tuition more than doubled in the eight years following 1948 (for 1964 it will be nearly four times the pro-1948 figure!). Endowment funds to meet the mounting demand for scholarships proved...
...forecasting demand faster and more accurately, making sharp swings in inventory unnecessary. As a result, recessions are becoming briefer, shallower and less frequent, and periods of prosperity are lengthening. In the 85 years before World War II, the average slump lasted 21 months; since then it has shrunk to ten months, while the length of the typical peacetime recovery has increased from 25 months to 32 months. Perhaps the recoveries are more moderate, but businessmen are coming to believe what Seneca said 20 centuries ago: "Moderate things endure...
...overstocked with deposits on which they pay 4% interest, and are eager to lend out at an auto loan rate that, in effect, amounts to 8.2%. Though some lenders are accepting many credit risks that they once thumbed down, they estimate that the rate of car repossessions has shrunk to a remarkably low 590 per 100,000 sales-one-third less than in 1961-while total auto installment credit hit a record of close to $20 billion in February. One reason: personal income is up 4% from a year...