Word: unsold
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Dates: during 1960-1969
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More for a Revisionist. Under the Stalinist system of centralized planning, newspapers were arbitrarily allocated newsprint and assigned press runs. Often the runs far exceeded the sales, but no matter: the State Committee on Publishing merely split the cost of unsold copies between distributors and the publishers. For the past two years, however, the government has been trying to make selected industries operate on a supply-and-demand basis. Applying this principle to the newspaper business, the government ordered that press runs be more closely matched to actual sales -hence the sudden circulation drop...
...unrelieved warmth and sun, and by new production from south ern-Florida groves, the current crop will surpass last season's 100 million boxes (100 lbs. each) by 42 million. When the nine-month harvest ends in June, nearly 10 million boxes may be left to rot unsold. Oranges "on the tree" cost 75? a box to grow and last year brought a handsome $1.25. They are now going at a distress price of 35? a box, leaving growers with the prospect of a $50 million loss on the crop...
...West Germany's deepening business downturn, few areas of the economy have suffered more than the auto industry. Production, which increased 12% in 1965, rose a bare 3% last year (to 3,000,000), and automakers entered 1967 with a worrisome 360,000 unsold cars. So severe is the slump that mighty Volkswagen, fourth largest automaker in the world (after the U.S. Big Three), is learning to think small again. Off Volkswagen's assembly lines at Wolfsburg last week rolled the first of its new Model 1200 sedans, which VW executives call the Wirtschaftskrise...
...major factor in the downfall of Ludwig Erhard's government two months ago, is even more visible today. More than at any other time since the Wirtschaftswunder (economic miracle) transformed war-torn West Germany into Europe's biggest trading power, television and automobile manufacturers are stuck with unsold stock, building cranes stand idle, and workers are uneasy about their jobs. The nation's economic growth, which has averaged almost 6% a year since 1950, dropped to barely 3% in 1966, is likely to dip to an icy 2% this year. "The economy," warns Fritz Berg, president...
...worse. By last summer, the domestic money market had so dried up that German businessmen advertised futilely in the London Financial Times for investment capital. Squeezed by rising labor costs and tight money, industry has pulled in the reins. The Krupp complex has a six-month supply of unsold trucks, may have to put 1,500 workers on reduced shifts. Volkswagen, with 84% of recent sales in overseas markets because of a severe drop in domestic demand, has cut 17 days off its production schedule for the next three months. In all, West German industry's capital investment...