Word: steel
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Dates: during 1960-1969
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Feeling Foxed. Remembering Fowler's words, many businessmen felt foxed last week when President Johnson cited "an exaggerated boom in business investment" and included a 16-month suspension of the credit among his emergency anti-inflationary measures. "A mistaken choice of remedies," said U.S. Steel's Chairman Roger Blough...
...about the most dramatic jumping-off place in France. With the tower's suicide rate approaching one a month, the Paris press last year campaigned for anti-suicide barriers around the "cursed monument." The Eiffel Tower Society, which oversees the structure, obliged by building a 51-ft.-high steel-wire fence around the edge of each of the tower's three platforms...
...last adherents of a great religion that once enlisted millions of ad herents throughout central Asia,&* the Parsis have traditionally influenced In dia well out of proportion to their numbers. Prosperous, cosmopolitan, literate, they dominate today the business community of Bombay. Industrialist J.R.D. Tata, whose steel mills constitute India's largest privately owned enterprise, is a Parsi; so are General Sam Hormuzji Framji Jamshedji Manekshaw, one of India's top military leaders, and Zubin Mehta, conductor of the Los Angeles Philharmonic Orchestra. Parsi girls for the last three years have won the title of Miss India...
...current market as bad as the last great break in 1962. That time, the slide was signaled in April after the famous confrontation between President John F. Kennedy and U.S. Steel's Roger Blough. The steel-price rollback resulted in a two-day loss of 9.79 on the industrials, but in the next week the average gained back two-thirds of that loss. In May, after a steady downturn, investors panicked. The industrial average declined 38.82 in five trading days, and on the following Monday sellers colored it blue. The industrials lost 34.95 points...
More to Come. Even so, official figures do not yet reflect some of the biggest recent price hikes, notably the early August 2.3% boost in sheet-steel prices, which promises to push up the price tags on everything from nails to new autos this fall. And there is much more to come. Cement makers have boosted prices by 10? to 20? per bbl. in several areas, effective in November or January. On Sept. 1, Detroit's unionized barbers will increase men's hair cuts from $2.25 to $2.50. Incensed by that "annual holdup," the Detroit News only half...