Word: stahl
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Most explicit exponent of the theory is Frederick A. Stahl, president of Manhattan's Standard & Poor's Corp. Argues Stahl: "Businessmen all work and operate in unison. They all belong to the same clubs, so business sentiment is pretty much developed through their exchange of ideas. Everybody was convinced by the President's stand on steel and the market drop that there would be a business recession. They began to adopt policies to protect themselves, such as cutting inventories and dropping unnecessary personnel." In effect, Stahl contends, businessmen took the steps they usually take after a recession...
Rolling Reconsideration. Since the beginning of this year's third quarter, the economy has shown some peculiar dips that lend support to Stahl's retrenchment thesis (see chart). The industrial production index fell fractionally in October and stayed down in November. Business inventories dipped significantly in August. A number of industries have cut back on employment-most notably the steel industry, which has laid off nearly 73,000 workers since last March...
Despite all this, no one, including Stahl, was prepared to argue that 1962 was a recession year in the literal sense. Instead, businessmen talk of a slowdown, for which they have some fancy names. Jessie C. Clamp, director of corporate planning for General Mills, calls it a "rolling reconsideration of investment desires...
...investment publications, The History of the Railroads and Canals of the U.S., got its present name after a 1941 merger with the 35-year-old Standard Statistics Bureau, another investment advisory firm. Getting the facts is so important to Standard & Poor's that even dignified President Frederick A. Stahl, 57, who in 34 years with S. & P. worked his way from statistician through almost every phase of the company to the presidency three years ago, spends most of his time working his top-level contacts in big business for inside tips. As a matter of routine, every...
...Governor Cecil H. Underwood came up to watch the inauguration. Simms now starts twelve months of world travel, much of it north and south of the borders. For the first time ever, West European Lions were thick enough to get a man on the vice-presidency ladder: Per Stahl, 42. knifemaker from Eskilstuna, Sweden, who will, in the normal order of Lion growth, become president...