Word: moring
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Dates: during 1970-1970
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The Federal Reserve's prime job is to prevent just such disasters. After Texas Congressman Wright Patman, an archenemy of banks and railroads, blocked the Nixon Administration's efforts to prop up the Pennsy with a $200 million loan guarantee, the Federal Reserve moved swiftly to steer the...
Since November, long-term interest rates have declined more swiftly than at any time in the last century. Rates on average-grade corporate bonds, for example, have fallen from 9.05% to 7.80%. A smaller drop in mortgage interest rates, which now average 8.45%, has helped builders to increase the annual...
Jumping Through Hoops. The year 1970 was also notable because, more than ever before, the talk about consumer protection turned into action. Many businessmen had long scoffed at consumerism: Campbell Soup President W.B. Murphy once called the movement "a fad, of the same order as the hula hoop." Through gutsy...
Productivity will show gains largely because companies, having learned to live with less manpower, will be slow to take back the laid-off workers and executives. At the same time, there will probably be a reduction in the hiring of the newer, younger workers who have always provided the fresh...
The Nixon Administration wants more. It is hoping for a 6% spurt in real growth for the year-or an astronomical 8% if measured from this year's strike-depressed fourth quarter to next year's fourth quarter. That unlikely rate of gain would lift the G.N.P. to...