Word: yearly
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Dates: during 1970-1979
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...this is a recession, let's have more of it. So joke some shoppers trying to elbow their way through the crowds that are thronging the stores. K mart has rung up a sprightly 13.7% increase in retail sales so far this year, and even laggard Sears, Roebuck reported a 3.7% monthly rise in November, its biggest gain in more than a year. So where is the recession? Like a mugger, it could be lurking around the next quarter if it has not already pounced. Real personal earnings are down nearly 5% from last year, and there are signs...
What is deceiving is that this recession may be coming out in spots like a case of measles. The auto industry has been the first big one to feel it; sales are off 10% for the year and more than 16% for the last ten-day selling period. Housing is also hurting, and industry experts are predicting a decline of 20% next year...
Many measures of industrial activity are lower today than they were at the beginning of the year. Like theologians discussing how many angels can dance on the point of a needle, economists may argue tirelessly whether there really was a recession in 1979 and when it arrived. But there are many who echo Economist Murray Weidenbaum: "A year from now we will not be debating whether or not we had a recession. It will be clear...
Charles Bluhdorn, the ultimate conglomerateur who merged some 150 companies into the $5 billion-a-year Gulf & Western Industries, is a tough, autonomous type, well known for his flamboyant and freewheeling manner. Last week, in a 60-page civil suit, the Securities and Exchange Commission charged G &W, Board Chairman Bluhdorn and Executive Vice President Don F. Gaston with "fraudulent courses of conduct...
...complaint follows a three-year investigation, aided by the confessions of Joel Dolkart, G& W's former general counsel, who was convicted in 1976 of forging a $250,000 check. The charges accuse the company of artificially inflating the value of some G &W assets; hiding losses by shuffling money and stock among subsidiaries; risking huge sums in unauthorized speculations in the commodities market; improperly transferring funds in and out of the Dominican Republic; investing G & W pension funds in outside businesses that benefited the officers; and using company legal, tax and financial services for private endeavors...