Word: turnabout
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
After two of the toughest years since the icebox became a refrigerator, the appliance industry is making a strong comeback. The turnabout started in June, and in the last several weeks all burners have been on. Last week the National Electrical Manufacturers Association reported that August sales of refrigerators, freezers, water heaters and food disposers topped August a year ago. In Chicago, August sales of air conditioners were up 45%, freezers 54%, electric ranges...
...hard-pressed appliance men, the turnabout came none too soon. Said Westinghouse Vice President Richard J. Sargent: "We are confident that the recession for this industry is over." Most of the industry agreed. Items: ¶Borg-Warner's Norge Division reported that September sales were up 29% for the best month in nearly two years. The company recalled more than 600 workers in three plants, put them on two shifts. Says Norge President Judson S. Sayre: "The way orders are landsliding, we could be sold out for the year by October 15." ¶General Electric's Appliance Park...
Only ten months ago the stock of Florida's Minute Maid Corp. was selling for ⅝|. Last week Minute Maid was one of the most heavily traded stocks on the New York Stock Exchange as it rose to 18. The stock was pushed up by a fast turnabout in the prospects for the company that pioneered frozen orange juice. In the red last year, Minute Maid turned in record third-quarter earnings of $1.8 million, and President John Michael Fox predicted more than $4.4 million net for the year...
...polled industry, found capital outlays are expected to be at the same annual rate in the third quarter as in the second, $30.3 billion, seasonally adjusted. Spend ing is expected to rise in the fourth quarter to $31 billion, some three to six months before forecasters had expected the turnabout to come...
...buying $1.2 billion of it, thus adding to the credit supply. Then it tried to tighten credit by sopping up the extra funds and permitting its banks to boost their discount rates. For the debacle in bonds, whether brought on by fumbles by the Treasury or the surprisingly quick turnabout in the economy, the Treasury is being bitterly blamed. Said Armand Erpf of Carl M. Loeb, Rhoades & Co.: "I suppose the loss of several billions of dollars in bond values is the price we have to pay to break in a new-Secretary of the Treasury...