Word: forecasting
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...Most members of the Manhattan contingent, who fly over by chartered Pan American 707 jet, keep their watches on Eastern Standard Time. Monthly and year-to-date financial results are flashed on a big screen. They show whether the company or group is doing better or worse than its forecast, and if there is any significant variation, a sharp discussion follows...
Beyond that, consumer confidence is growing. Albert Sindlinger, a top market researcher, surveys 2,300 families a week around the nation, asking them to forecast whether their own incomes as well as the local job situation and business conditions will be higher or lower six months hence. His "forecast index" of consumer confidence rose from this year's low of 117.4 in July to 128.5 in mid-November, the highest since late 1969. Because the upturn began in early September and it takes at least three months before the consumer mood is translated into purchases, Sindlinger figures that...
...rise, and will thus be a propellent force in the months ahead. So, too, may be capital spending. Businessmen hardly increased their outlays for plant and equipment this year. But McGraw-Hill projects a 7% increase for next year, and the research economists at Lionel D. Edie Co. forecast a 9% gain. In past economic recoveries, these capital forecasts have been on the low side, and businessmen have roughly doubled their predicted outlays as signs of economic revival become more visible. If consumers buy as much as expected, businessmen's spending-which so far has been a lagging indicator...
...becoming President. In this survey, the TIME bureau chiefs who with the help of 76 local correspondents will report on the five major regions for the 1972 campaign were asked whether Ted could defeat Richard Nixon?with particular emphasis on the residue of Chappaquiddick. Their answers are not a forecast but a reading of present sentiment; any number of factors could change the situation. Nor do these reports attempt to judge other candidates who might do as well or better against Nixon...
...prepare Orissa for the cyclone. When it was first spotted and reported by a U.S. weather satellite a full day before it hit land, the storm seemed to be headed for the very area of East Pakistan that was devastated last year. Then it changed direction, but the satellite forecast well in advance that it was headed for Orissa. "The authorities seem always caught unawares by calamities, even when they are at least partially foreseeable," said the Statesman, one of India's leading dailies. "The traditional attitude of resignation to the caprices of nature seems totally out of tune...