Word: week
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Dates: during 1960-1969
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...consumer caution is due not only to inflation but also to growing uncertainty over the economy. Last week's figures disclosed continuing November declines in industrial production, housing starts and workers' purchasing power, distressingly combined with consumer-price increases that were running at a 6% annual rate. Arthur Burns, who will become chairman of the Federal Reserve Board on Feb. 2, conceded to a Senate committee that the U.S. faces a "danger" of recession. He spoke cautiously of a relaxation of the board's credit squeeze-if Congress passes a noninflationary tax bill and President Nixon...
...sales of $1.1 billion, compared with 6% for the industry's most profitable major operator, Firestone. After Northwest's takeover attempt, Keener, who was paid $240,000 last year, allotted each of the divisions a profit target and rigorously trimmed back on money-losing operations. Last week, six days before Christmas, Goodrich closed down a rubber footwear plant in Watertown, Mass-and with it went the jobs of 950 employees. In that case, the closing had been announced in July. "Let's be frank," says John N. Hart, Goodrich vice president and controller...
...Kemper Insurance Group outbid nine other companies for the policy to cover Indianapolis' 123 schools against fire, vandalism and other risks. The school board paid its $126,000 annual premium and had only one major claim-$101,000 for windstorm damage. Last week the board was searching for new coverage. Kemper announced that after the Indianapolis policy expires on March 1 it will not be renewed...
Executives of Fantus Co. have helped so many companies find sites for new plants or offices that they have built the world's largest industrial location service. Last week they concluded that they have been in the wrong place themselves. They decided to move Fantus' headquarters out of Manhattan to South Orange, NJ.-following such firms as General Foods, American Can and PepsiCo, which have shifted large operations outside the city...
...pollution, strikes, employees' attitudes toward work and operating costs. He cites high and rising city income and occupancy taxes, as well as office rents of up to $15 a square foot in midtown Manhattan v. $7 in the suburbs. Clerical workers commonly put in only 35 hours a week in Manhattan v. 40 in some nearby towns, and their turnover rate averages 34% a year, against 15% in Stamford, Conn. Worst of all, Yaseen reports, it is becoming almost impossible to attract middle-level executives to New York, because living costs average 40% higher than in, say, Dallas...