Word: slowdowns
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Dates: during 1960-1969
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Despite all this, no one, including Stahl, was prepared to argue that 1962 was a recession year in the literal sense. Instead, businessmen talk of a slowdown, for which they have some fancy names. Jessie C. Clamp, director of corporate planning for General Mills, calls it a "rolling reconsideration of investment desires...
Despite West Germany's current economic slowdown, German industry's most famous product is still speeding along fast enough to puncture a few egos in Detroit. In a letter to his shareholders last week, Volkswagen Chairman Heinz Nordhoff, 63, announced that the company's 1962 sales seem certain to reach $1.4 billion-a 25% increase over 1961. The total number of Volkswagens produced this year will be well over a million, which will put VW second only to G.M.'s Chevrolet Division as the world's biggest producer of a single make of auto. Biggest...
Amexco takes good care of its own money too. Earnings last year were $9,200,000, and 1962 promises to be even better. The travel business has bounced back from a slowdown last year, and even Amexco's credit card operation, a consistent money loser since its introduction in 1958, has finally moved into the black. To turn the trick, Clark a year ago increased credit card dues from $6 to $8 a year, tightened credit and ordered his 100-man security force to pick up cards from deadbeats...
...This slowdown came about because of a government effort to put the brakes on Japan's runaway economic expansion...
More Pay, Fewer Hours. Behind the slowdown in German growth lie severe shortages of two vital economic ingredients: manpower and money. In a nation where World War II wiped out much of a generation, there are now 562,000 job openings and barely 100,000 unemployed. Capitalizing on this, Germany's long-docile labor unions last year pressured wages and fringe benefits up 13.6% to $1.20 an hour, the highest in the Common Market; simultaneously, they pushed the average work week down to 41.3 hours, lowest in the Market. German executives, who once boasted of their nation...