Word: slowdowns
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...held to 5% on all deposits. In most cases, savings and loan associations will be limited to 4¾% on passbook savings accounts. S & Ls in California, Nevada and Alaska, which have suffered badly in the competition with banks for deposits, will be permitted 51% . For bankers, the slowdown in deposits forced by the new ceiling undoubtedly will diminish the supply of money available for lending...
...Japanese department-store sales are considered to be a highly reliable thermometer of the national economy. Between 1955 and 1964, Japan's G.N.P. soared by an annual average of 14% ; during that same period, department-store sales rose by 13% a year. In '65, when an inevitable slowdown set in, the growth rate of the national economy and the 156 members of the national Department Store Association (21 of them in Tokyo) suffered similarly. Thus, last week, when word came out that July department-store sales in Tokyo were up 11.9% over last year (to a projected annual...
...change may prove temporary, but it pleases businessmen, bankers and Government leaders. Says Chairman Gardner Ackley of the White House Council of Economic Advisers: "This slowdown is expected-and welcome...
Extravagant Charade. The Pressmen, on the other hand, have what amounts to a built-in reason for a slowdown. Their new president, William Kennedy, took office just last week; and since he must run for re-election in only a year, he has every reason to put on at least as tough a front as his predecessor at the bargaining table. As expected, Kennedy presented the publishers with a new list of extravagant demands; as expected, the publishers insisted that the demands were impossible to live with. That charade was expected to last a week...
...good first quarter, on unexpected cost increases caused by rapid expansion, and an acute shortage of seasoned aircraft workers. The company has not only been forced to undertake expensive training programs but to hire 31,000 employees in six months. Most of all, Douglas has been hit by a slowdown in deliveries of Pratt & Whitney jet engines, diverted to fighter planes bound for Viet Nam. As a consequence, Douglas expects that it will have to delay until next year the completion of up to three DC-8s and 15 DC-9s anxiously awaited by airlines. During 1966, says President Donald...