Word: pickup
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...minicab owners get around this situation by claiming that the red tape applies only to cabs that "ply for hire" on the streets. They insist they answer only calls that are phoned to the main office and then radioed to a parked or cruising minicab that makes the pickup. One shrewd owner, an Irish-Indian go-getter named Michael Gotla, will allow his mini cabs to be flagged down by passengers; the driver will then hand his car phone to the customer and ask him to place his order with the dispatcher at headquarters, who will solemnly repeat...
After months of dark economic news. U.S. businessmen last week hopefully thought that they saw glimmers of the dawn. There was some danger of mistaking a normal seasonal pickup for the end of the recession, but there was enough heartening economic news to give reason for hope...
Unlike 1958, when a burst of housing starts led the economy up from the recession, housing last year led the way into 1960's recession, the first major U.S. industry to turn down. More alarming to builders, who are accustomed to a recession pickup as cheaper mortgage money becomes available to home buyers, housing has stayed down. Nevertheless, the Federal Home Loan Bank Board last week announced a five-point program to make more housing credit available at lower interest rates, reduce downpayments...
...with profits of $5.17 per share v. $4.25. Of future prospects, Chairman Blough says: "If customers could get along on any less steel than they have at the present time, it would be something like an inventory miracle. In the next month or so we will see a noticeable pickup." Other steel producers showed earnings drops but still managed to stay in the black: National Steel earned 86? v. $1.66 in the fourth quarter, $5.53 v. $7.28 for the year; Allegheny Ludlum earned 66? per share v. 73? in the fourth, $2.25 v. $2.92 for the year...
...final economic prognosis of his Administration, Dwight Eisenhower last week predicted an economic pickup soon. The 214-page report, while stressing that "economic activity continues high," took note of the downturn without referring to it as a recession. It emphasized the economy's progress rather than its halts. Nonetheless, the minus signs loomed large in new economic figures that were not available when the report was prepared. Raymond Saulnier, outgoing chief of the President's Council of Economic Advisers and the report's chief architect, admitted that things may be worse than they seemed when the report...