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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 29, 1976
Page
4
The 1975 forecasts were aided by fewer shocks and easier conditions, with economists acknowledging luck plus careful judgment. They noted oil and food price surges and the end of wage price controls as disruptors, while forecasts missed inflation and unemployment by varying margins.
AP analyst John Cunniff reports Walter Heller argues the public is miseducated and misled about economics. He says fears of a growing federal blob suppressing initiative are a partisan myth, noting the budget share of GNP sits near 20 percent and would adjust to full employment at that level.
North American newspaper Manve New York Wall Streeters expect ongoing White House economists to deliver favorable news on the economy through election day. Greenspan Seidman Pate Burns and Simon reportedly support a steady improvement, with stocks rising by about 90 billion on the Pig Board and bond gains also lifting sentiment. White House aides hint at a 7 percent real GNP growth and inflation near 5 percent, plus mortgage rates dropping to about 8 percent by midyear, a forecast challenged by construction experts.
Quotations from the National Association of Securities Dealers are representative interdealer prices as of about 3 p.m. daily. Prices exclude retail mark ups and markdowns.
James B. Sloan elected president of Swaim Co. with W. Swaim’s widow as secretary treasurer. George W. Grant Jr. becomes senior VP in charge of operations, purchasing. Wiley G. Clary Jr. named executive VP in charge of sales. Dunhill Personnel of High Point wins national award for small cities. ASHEBORO reports Q1 1976 sales $9.98 million with $0.22 share income. prior year $9.35 million sales and a $0.22 loss. Harrelson Rubber posts Q1 1976 sales $3.94 million. net income $0.175 million. BEMCO Associates reports 1975 sales up 12 percent. ROCKLEIGH Atwood Corp records 1975 net income per share $2.43, new record. Southern Die Casting, division of Atwood, plant in High Point. HICKORY Furniture Co. posts Q1 1976 sales $5.91 million up 9 percent. EPS 0.19 vs 0.18.
The Dow Jones average closed Friday at 972.61, down 15.19 from the previous week. Analysts cited profit taking on Thursday and higher interest rate news on Friday as the main factors behind the decline.
A federal inquiry will review whether Thomas A. Dixon, director of the Catawba County Farmers Home Administration, has a conflict of interest by serving as a loan officer while running a private real estate firm. Dixon, 41, Newton, says the business was started as retirement income. The U S inspector general will conduct the probe.
A brief guideline urging sound thinking among citizens to safeguard the nation’s future. It emphasizes civic responsibility and rational discourse as the foundation for a stable society. The message underscores collective duty and thoughtful participation in public life.
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