Word: steels
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Dates: during 1950-1959
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...billion, some $500 million better than had been predicted a few weeks ago. Consumer inventories were also building up faster than expected. The figure: an accumulation rate of $5.7 billion, or $1.7 billion more than the early estimates. Much of the buildup was undoubtedly due to fears of a steel strike. Ward's Automotive Reports cautioned that auto dealer inventories may soon hit an alltime high of 1,000,000 unless production is cut back in late June and July...
...Very Model. Few men are better suited to present the public image of trust and integrity fostered by the funds than Dwight Robinson. He is the very model of a Proper Bostonian, from his steel-rimmed spectacles and dark, conservative suits-he always wears a vest in the office -to his clubs (Union, Longwood Cricket) and his finely polished sense of discretion...
...paid for it. M.I.T. slimmed its portfolio from 128 to 77 stocks, concentrated in defensive stocks (utilities, foods, tobacco, etc.), better able to withstand the Depression. By 1933 Robinson and his staff saw light ahead, and M.I.T. began switching out of defensive stocks and into railroads, automobiles, mining and steel. With a poker player's eye, Robinson could look at a company's present and guess its future. He personally researched the Texas Co. (now Texaco, Inc.), persuaded the trustees to buy 15,000 shares. The trust kept on buying until...
M.I.T. bought heavily into steel after the war, when most other funds shunned it as a prince-and-pauper industry, saw its hopes for steel realized when the value of its investment grew from $65 million to $142 million. When the recession began in 1957, M.I.T. reckoned that it would be brief. It stayed in growth stocks throughout, now needs little portfolio shifting for the economic recovery...
...executive, realized that Adams was not about to yield. Geneen's resignation sent Raytheon's stock down 6½ points, touching off a wave of selling of other electronic issues. Reason: in his three years with Raytheon, Geneen, who came from a top post at Jones & Laughlin Steel Corp.. helped reorganize Raytheon so effectively (TIME, June 23) that earnings rose to $3.08 per share last year from 45? per share in 1956. At I. T. & T. (1958 sales: $635 million) Geneen will be given full sway to build the company's profits, broaden its consumer...