Word: slumping
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Dates: during 1960-1969
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Through the U.S. business community ran a puzzling undercurrent of uneasiness, prompted in part by the stock market's slump (see above) and fear that tight money will nip the boom. As they looked ahead into the 19603, many businessmen also realized that the prosperity envisaged by economists will demand a lot of no-nonsense elbow grease. Yet news from all areas last week showed the economy to be strong. Items...
...components but in consumer products. Magnavox took his advice, quickly slipped into the black. But consumer products also had their dark side: Magnavox was hard hit in 1949, when the introduction of the LP record and industry confusion about new frequencies and TV-tube size caused a slump in consumer buying. Overloaded with sets, Magnavox saw its stock plummet, its losses rise. To raise more working capital, it sold 100,000 shares of preferred stock for $1,300,000, stepped up sales - and has not reported a loss since. When President Richard A. O'Connor moved up to chairman...