Word: first-half
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...early 1961, are now booming along at an annual rate of 1,500,000. Auto sales are brisk, if not so brisk as in 1955. Government spending is rising, if not so fast as a few months ago. Says RCA President Elmer W. Engstrom, whose company enjoyed record first-half earnings: "In the experience we are having, the economy continues to be good. But we sense in the air a certain amount of confusion and uncertainty.'' Engstrom's attitude reflects a widespread ambivalence among businessmen, who report good earnings for themselves, but worry about the worries...
After all of the attention focused on the stock market and the possibility of a recession, first-half earnings reports by U.S. business seemed to add up to a happy surprise. Impressive second-quarter gains were reported last week by many companies, including Hertz, Raytheon, Pepsi-Cola and Eastman Kodak. In a survey of 934 corporations, the First National City Bank of New York found that earnings were 13% better in this year's second quarter than in last year's second quarter, with the food industry up 12%, paper 15%, aerospace 27%, railroads 32%, textiles and autos...
...having their best sales year since 1955. On first-half sales of $4 billion. Ford earned $268 million−less than the $286 million that it earned on sales of only $2.9 billion in the first half of 1959. American Motors' sales in its present fiscal year are about the same as two years ago, but profits are down 30%. Chrysler is an exception. By virtue of severe cost-cutting measures that will slash $60 million off the payroll this year, it has turned last year's first-half $16 million deficit into a $12 million profit, even...
...TEXACO'S profits rose 14.3% above last year to 82^ a share, to give the oil company record first-half earnings of $1.73 a share; STANDARD OIL OF CALIFORNIA also profited from bigger crude oil and natural gas sales to boost its first-half earnings 5%, to $2.25 a share...
...their wage demands. Since then, he has wooed U.S. Steel Chairman Roger Blough in private chats. Fortnight ago, Kennedy and Labor Secretary Arthur Goldberg huddled secretly for two hours one evening in the White House with McDonald and Blough. Kennedy wants 1) a quick settlement to head off any first-half splurge and second-half slump in inventory buying, 2) no increase in prices, and 3) only such wage and benefit increases as are warranted by increased productivity...