Word: v
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Dates: during 1960-1969
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...buying by people who went deeply in debt to grab up stocks with more futuristic "glamour" than current earnings. This year's market leaders are blue-chip companies with strong earnings to back up their stock prices. Dow-Jones stocks are selling at 18.8 times per-share earnings, v. 22.9 times earnings in late 1961. The easily panicked amateur buyers, who deal in small lots, account for only 15.8% of trading, compared with 20.8% two years ago. "This is a thoroughly professional market," says Vice President Robert B. Ritter of Wall Street's Maxwell, Franklin...
...that is one of the company's prime properties. Sinclair needs oil badly because it is in the uncomfortable position of owning far more refining capacity (470,000 bbl. daily) than production capacity (201,000 bbl.). Buying crude to keep its refineries cracking costs Sinclair $3 a bbl. v. $2 for oil from its own wells. Describing his company's plight, Steiniger uses a kitchen analogy: "It's like a baker with big ovens and not enough flour for his dough...
...gourmet specialties of first class-and the meals are served on one tray instead of by courses. A 3-oz. liquor drink is served free with meals, but no further liquor is sold on board. For one-class service, the price between New York and Chicago is $48 v. $54.75 for first class and $43.70 for coach...
...Patterson is still bothered by the tragedy. Asks he: "Do narrow aisles and sardine seating provide adequate evacuation of jet aircraft? In all good conscience, just how many passengers can you squeeze into a plane?" Significantly, Patterson's one-class planes have a 20-in.-wide aisle v. 17 in. in ordinary coach and 16 in. on the even more cramped aisles on some economy flights, which are used mostly on international routes...
Europe's buying power is rising all the faster because labor is scarce and demands ever higher wages. With a slightly smaller population than the U.S., the Common Market Six have more than 73 million people gainfully employed, v. 70.8 million in the U.S. This year employers are bidding up wages and benefits 8% to 15% in Germany, France and Italy. Wage inflation is keeping the consumer buying, but it is also cutting into corporate profits...