Word: upturning
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Still Another Coalition. The upturn in Imbert's fortunes apparently caught the U.S. by surprise. When Presidential Adviser McGeorge Bundy & Co. flew south early in the week, rumors flooded Santo Domingo that his mission was to bypass Imbert and negotiate a peace with Caamaño's rebels. The U.S. position was still Constitutionalism Sí! Communism No! But the situation seemed to favor Caamaño, sitting cockily in his downtown rebel enclave, refusing to talk with Imbert and sending out snipers to shoot up the city at will. By contrast, Imbert, while he claimed to control...
Billions in Profits. Such gains are for the most part solidly grounded on the steady rise in the earning power of big corporations. Pre-tax corporate profits are now running some $13 billion a year above the level of 1961, when the business upturn began-a gain of nearly 30%. A few weeks ago, American Telephone & Telegraph Co. reported profits for 1964 of $1,700,967,000-an alltime record for U.S. corporations. But last week General Motors, despite a six-week strike last year, surpassed that with its report of a $1,735,000,000 profit, an increase...
...Consumer: a Hero. The real hero of the current upturn is the U.S. consumer. He is changing his habits. He has usually spent about 92% of what he took home and banked the rest. Now he is saving less but enjoying it more. This year he is spending at least 94% of his income-or $8 billion more at an annual rate-and sending cash registers ringing to new records...
Talk alone cannot create prosperity-but is essential to it. Across the nation last week, the surprising business upturn -and where it would lead-was the subject of almost every businessman's conversation. The usual optimists had a field day, the fence-sitters felt stirrings of commitment, and even the normally cautious allowed themselves a grunt or two of satisfaction. The sentiments of U.S. businessmen, from the corporate chief to the corner clothier, were captured by Wall Street's Francis I. du Pont & Co.: "The current upswing in business seems to have something for everybody." Only six months...
Economists carefully measure the behavior of the consumer, and with good reason: consumer spending soaks up two-thirds of the nation's entire output. In 1963 the consumer is even more important than usual. Capital spending by business, one of the prime necessities of an economic upturn, has yet to increase significantly beyond its 1957 level. Government spending will probably be held down by the sharp political reaction to the threat of a large federal deficit. Industrial production has slid off the peak it reached last September, and in January just managed to equal December's performance...