Word: slumps
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Dates: during 1950-1959
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...prospects: 91% expected that their sales would exceed or equal 1957; eight out of ten thought profits would be better or at least as good; only 1% expected to cut production. In Hollywood, Fla. 1,050 conventioneers at the Investment Bankers Association predicted that easier money will bolster the slump in capital investments, that record personal incomes will lift consumer buying to new peaks, that low inventories will be rebuilt and spur manufacturing. To cool down recession talk, the New York Federal Reserve Bank made one of its rare public predictions, said that "the period of most severe decline...
...concessions to Mujal: an obligatory dues checkoff that puts $20 million a year in the union cashbox, gradually rising wage minimums set by the government wage board. New industrial investment during the past four years totals $612 million. The civic struggle has caused the tourist business to slump, but four luxury hotels are going up-including the 20-story Havana Riviera and the $22 million Havana Hilton (of which Mujal's Restaurant Workers' Union owns a $9,000,000 chunk). "Without a general strike in Havana," says Mujal, "Castro has no chance. As long as I live, there...
...slipped only 12.4% below last year, and only 2.8% below the week before, considerably less, say railroaders, than the normal seasonal decline. Total for the year will probably wind up about 5½% less than last year. In the 1953-54 recession the drop was 11.6%, in the 1949 slump 15.9%. Moreover, truck lines, which carry 17% of all freight, are doing better than last year...
Despite the recent drops, the U.S. economy still has a long way to go before it approaches the slump of 1953-54-which economists now refer to as the "goldplated" recession. Steel must drop another 21% of rated capacity, retail sales 10%, carloadings another 6%, industrial production another 12 points, and unemployment would have to double to 5,000,000 (most economists foresee 4,000,000 by spring). The only part of the U.S. economy that has dropped far enough to be in a serious recession is the stock market. It plummeted...
...Minneapolis-Moline two years ago with Henry Reddig and his brother Edward when the company's prospects looked good and its stock was selling at $18 a share (with a book value of $47). But the company failed to strengthen its competitive position, was hard-hit by the slump in farm income, saw its earnings drop from $66 million in 1956 to about $57 million in the fiscal year ending Nov. 1, its stock fall to $10 a share. Tall, Arizona-born Russ Duncan is considered strong on sales, will try to overcome the poor sales and service system...