Word: turnabout
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Rising steadily last week were most of the economy's key indicators, among them corporate earnings and steel (see below). One of the few major indicators that failed to show a significant surge was corporate spending for new plant and equipment. But signs cropped up that a turnabout...
...Turnabout. In the seventh, Durelle went down. He was up at the count of three. But in the tenth, he was down again. Archie wasted no time in the eleventh. He charged straight off his stool, clobbered Durelle with a tremendous right, dropped him for nine, then polished him off for good...
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...