Word: slump
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Dates: during 1960-1969
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...only boredom, and the debris of boredom. Dirty glasses, old newspapers, crumpled cigarette packs. Even the people are debris. Women wander aimlessly, their hair frazzled, their makeup so streaked that their faces look as if they are melting. Men in rumpled suits, with three days' growth of beard, slump in chairs staring at the message boards that bear no messages...
...drives against smoking have already hurt the manufacturers. Last year smoking declined for the first time since the 1964 report caused a one-year slump. Although the nation's over-15 population has increased, the estimated number of U.S. smokers has dipped since 1964 from 70 million to 60 million. The number of cigarettes consumed in the U.S. dropped in the past year from 527.8 billion to 526.5 billion. Many teenagers no longer feel obliged to smoke; it is no longer necessarily the thing to do. Responding to these ill portents, cigarette companies have accelerated their diversification drives, which...
...from the year before, on sales of $16 billion. Texaco also set a record with earnings of $835.5 million, while Atlantic Richfield gained 14.5% over 1967, Mobil 11% and Gulf, California Standard and U.S. Shell each about 10%. The chemical industry was cheered by the end of a slump in sales of synthetic textiles. Du Pont, which derives one-third of its business from nylon and other synthetics, increased its profits 18%, to $372 million...
...Channing ranked high in 1967, when it grew 47%; last year, with a growth of 2.6%, it was 296th. Like the Manhattan Fund and many other big funds, Channing was heavily invested in the more seasoned glamour stocks-Ling-Temco-Vought, Fairchild Camera, Polaroid-that declined during the stock slump before Lyndon Johnson's March 31 renunciation, and have been slow to recover. Big funds cannot move out of such stocks quickly without upsetting the market; but smaller funds can-and they did. In a highly selective market, says Channing's Green, "There is no doubt that...
...Brokers normally count on a year-end rally, and they have been disappointed only six times in the past 41 years. Last week was one of those times. Mostly because of the Federal Reserve Board's recent moves to make money scarcer and costlier to borrow, the latest slump in stock prices stretched out to a full month...