Word: slumping
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Dates: during 1950-1959
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Dore Schary, 53, oldtime writer, big-wheel cinemagnate and devout Democrat, has long mingled his art with politics. In 1956, after a slump at the box office and a series of money-losing movies (The Swan, Somebody Up There Likes Me), he was fired as production chief of Metro-Goldwyn-Mayer, suspected that the firing was due in part to his support of Adlai Stevenson. Schary had stumped for Stevenson in the 1952 and 1956 campaigns, also produced the doctrinaire film, Pursuit of Happiness, for the Democratic National Committee...
...fourth-quarter gains were run up by International Business Machines ($2.17, v. $1.86 in 1956), which had a record profit year, and Westinghouse Electric Corp. ($1.11, excluding a special tax refund, v. $1.07). Though the earnings trend was down, such surprisingly strong showings in the face of the business slump gave hope to investors that in 1958's first quarter, many companies may feel the recession less than expected...
From the world's largest copper company last week came a dollars-and-cents confirmation of the industry's slump. Kennecott reported 1957 earnings of $7.32 a share v. $13.23 in 1956. The drop surprised few Wall Streeters, who are figuring on similar drops for Kennecott's competitors. They estimate Anaconda earnings at slightly over $4 v. $12.85 m J956 and Phelps Dodge at around $4.40 v. $8.72. Principal reason for the drop: a price slide that Kennecott's President Charles R. Cox called a "debacle." Three weeks ago Kennecott set the pace for domestic producers...
Down the Road. Bob Young's golden moment soon passed. Like every other U.S. road, the Central was caught in the nationwide rail slump. Fortnight ago the Central's directors voted not to pay the quarterly dividend. The railroad's earnings had plummeted along with the stock, which reached a low of 13¼ last week. Bob Young, who had borrowed heavilyto buy the 100,000 shares of Central stock he owned, was forced by lenders to sell as the price skidded lower. By year's end he had unloaded all but a few thousand...
...division's biggest year, to 332,102 for the first ten months of 1957, well behind Plymouth. While Buick dealers complained about Kudner's "unchanging" advertising and its lack of contact with dealers, they also felt that the biggest reason behind Buick's slump was its lackluster styling...