Word: overbuilt
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Dates: during 1960-1969
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...Adams introduced vending 76 years ago with penny machines on New York City's elevated platforms. The industry blossomed in World War II, with jerry-built soft-drink and snack dispensers in three-shift war plants. But postwar prospects attracted underworld hoodlums and undercapitalized hopefuls. The industry was overbuilt, and fell into such bad repute that long-range credit was difficult to obtain...
Resolution Kept. Murdock has by no means laid aside the silver-plated shovel he uses for all his ground-breaking ceremonies, even though Phoenix is temporarily overbuilt. He has developed 552 million worth of real estate since 1960, and recently he met with Transamerica Corp. officials who are interested in building a new apartment-hotel-shopping complex in Phoenix. With all this activity, he has hardly had time to revise the New Year's resolution he made in 1961: to make his company, then valued at $25 million, a $100 million enterprise within five years. He has already surpassed...
...York and overseas headquarters of General Motors. G.M. is eager to trade up from its shabby, 37-year-old offices at Broadway and 57th Street. Rayne is more than happy to accommodate G.M. by razing the Savoy Plaza; he believes that the New York hotel market is overbuilt and will be in trouble after the World's Fair closes. Says he: "What's good for General Motors is good for London Merchant Securities...
...earth place to live. Europeans are suffering from the tightest housing squeeze since the immediate postwar days. Rentals have soared, and the price of private houses has shot out of reach for millions of people. Last week, as government officials everywhere stewed over what to do, France's overbuilt bureaucracy took a few steps to ease its Crise du Loge-ment. It freed some state lands for housing development, announced a major slum-razing and rebuilding program, and sliced back the paperwork that now stymies building permits for up to two years...
WHEN bowling was burgeoning a few years ago, the Brunswick Corp.'s dazzling profits and stock splits were a financial 300-game. But the game's popularity peak has passed, the industry is vastly overbuilt-and Brunswick has lately been getting mostly gutter balls. Chairman Benjamin E. Bensinger, 58, fourth of that name to run the 119-year-old company, last week reported a 1963 loss of $10.1 million, largely because Brunswick set aside $15 million to cover defaulted payments on alleys and pinsetters. Trim Ted Bensinger is undismayed. He foresaw the drop and tried to forestall...