Word: stocked
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Dates: during 1960-1969
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During summer months, Broadway favorites flood the countryside where they are performed by members of the original cast, summer stock troupes or local players. Among this season's most frequent productions...
...good times" will last forever, the theory goes, then everyone will become more cautious in his buying decisions, demand will slow down-and prices will taper off. This effort to conquer euphoria has at last succeeded in an area of the economy that deeply affects most U.S. adults: the stock market. Wall Street's speculative binge has been replaced by the bear market...
Margin Calls. Inflation usually stimulates the stock market, but Washington's anti-inflationary moves are now badly hurting shareholders. The Dow-Jones industrial average has dropped more than 150 points since it reached the year's high of 969 in May. Last week it fell precipitously, closing at 818, lowest in 21 years. Many speculative stocks have been cut in half. The mutual funds are sitting on the sidelines, holding tremendous sums of cash and waiting for the market to hit a bottom. The slide has forced some brokers and bankers to make margin calls...
Disheartening Earnings. The stock market faces some problems it did not have in 1966. Investors are worried about the likelihood of higher taxes on capital gains and a reduction in the oil-depletion allowance (see THE NATION). Corporate profits are another disheartening factor. Earnings remained at record levels all through the 1966 market slide. This year most companies reported rises for the second quarter, but there have been some major exceptions, notably in steel, autos and airlines (see following story). Compared with the second quarter of last year, earnings fell 17% at Kaiser Industries, 17% at General Motors...
...Brown and some of his Browns teammates, has offices in six cities to help blacks find jobs, business advice and capital. Brown, who worked off-season promoting Pepsi-Cola before he went to Hollywood, thinks that the next goal will be to encourage black businessmen to sell common stock and build large public corporations. "The black businessman does not want to give up 10% of his stock," Brown says. "He does not quite understand what it means to have control rather than the whole pie. Going big is an experience most black people never had." When black capitalism joins...