Word: townsend-greenspan
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...biggest fear holding down investment is of a renewal of inflation to double-digit levels. Once a prod to "buy now before the price goes up," inflation has become a brake on capital spending. Says M. Kathryn Eickhoff, vice president of Townsend-Greenspan & Co., Manhattan economic consultants: "An inflationary environment makes calculating rates of return on new investment difficult, even though profits as a whole are likely to rise as inflation advances...
...return of sustained double-digit inflation. That likelihood is not easy to gauge. The October leap in wholesale prices seems to have been partly a statistical fluke, caused by difficulty in calculating seasonal adjustments. M. Kathryn Eickhoff, vice president and treasurer of the New York economic consulting firm of Townsend-Greenspan, suggests that the real annual rate of increase may be only about half the 23.9% reported. Still, the October jump was disquieting: it involved not only metals and cars but also farm products, lumber, textiles, clothing, furniture and household durables, all of which climbed substantially in price...
Housing starts in January ran at an annual rate of 987,000 v. 2.5 million in January 1973. Yet some surveys indicate that a modest upturn is likely. The Manhattan consulting firm of Townsend-Greenspan forecasts that the pace of housing starts could hit 1.4 million by year's end. Many of these predictions assume that cuts in federal taxes and a decline in the rate of price increases will put consumers in a more confident home-buying mood. Whether those assumptions are correct could have critical significance. A resurgence in housing has been a leading force in lifting...
...economic team grow more ominous. Month by month recently, the economy has sagged more than the Government or private forecasters have expected. Some economists are openly mulling over possibilities that even a short while ago were unthinkable. For example, just before Greenspan took office last month, his consulting firm, Townsend-Greenspan, warned clients that "although we do not expect a breakdown in the financial system near term, it cannot be ruled out as a possibility at some point in the future...
...remain an outside critic-consulting when asked, praising and needling as he saw fit. His reputation surely did not need whatever prestige-or damage-would accrue from a high job in a Government preoccupied with impeachment. He earns more than $300,000 annually as head of Manhattan's Townsend-Greenspan & Co., an economic consulting firm that has some 100 blue-chip corporate and Wall Street clients. He has earned the respect, too, of fellow economists of all persuasions, including his colleagues on TIME'S nine-member Board of Economists. Erudite and witty, with a fine mastery of business...