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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Mar 21, 1971
Page
3
New York AP reports the Nixon administration faced raised doubts about a sharp 1971 recovery as personal income rose little in February and industrial output fell 0.4 percent per the Fed index. The Commerce Department noted no significant income gain while automakers questioned 10 million car sales for 1971.
Detroit sources note tentative second quarter production near a 9.5 million year, while observers question if Nixon will cut taxes to spur growth. Flanagan says no such move. Dow tops 900 again, Amex chief Ralph Saul resigns to join First Boston. House votes to halt SST funding. Penn Central freight cars worth over $1 million stolen. Nixon seeks state driven transportation funds and no fault auto insurance reform. Dennis Stanfill named TD and COO at Twentieth Century Fox. Prime rate cuts to 5.4 percent cited by banks.
The Dow Jones industrial average topped the 900 level last week with the 30-stock measure reaching beyond 900. Analysts noted profit taking reduced gains late in the week as the index finished at 913.99. The broader 60-stock index reported a weekly close of 316.8.
Quotations from the NASD reflect representative interdealer prices around 3 p.m. Thursday. Markets fluctuate during the day and prices exclude retail markups, markdowns, and commissions.
AP report analyzes automatic benefit adjustments linked to living costs. It notes widespread support and political risk, with advocates arguing inflation-proofing benefits solves gaps, while opponents warn risks of built in inflation. The piece cites international examples and concerns about borrowing against future gains.
New York report by Lou Schneider notes the tenth bank prime rate cut in less than a year. The move signals cautious big business and weak consumer borrowing despite lower loan rates. Analysts say confidence and sustained demand are needed for a real recovery.
Waters Inc announces the election of Nell J Heaslip as vice president for marketing and Charles J Whaley as vice president for internal operations. Heaslip comes from Sequoyah Industries and has held senior roles in publishing and textiles. Whaley, a Georgia native, has spent a decade at the Trust Co of Georgia and holds an industrial management degree from Georgia Tech.
In Raleigh a projected 14 000 North Carolinians are expected to enroll this year in supervisory development training courses run by technical institutes and community colleges. Don Moore of the Department of Community Colleges announced the figure. The SDT program aids industry and organizations by providing training for personnel at supervisory and potential supervisory levels. Twenty five courses, 10 to 48 hours long, are offered with another course on Alcohol and Drug Abuse for Supervisors planned.
Richardson of High Point named among 41 North and South Carolina members of the President's Club for 1970 at Home Security Life Insurance Co of Durham.
Ernest M. Addington special representative in Thomasville received a certificate of achievement from Jefferson Standard Life Insurance Co for completing the company's career school at the Greensboro home office. He was among 40 representatives from 13 states and Puerto Rico invited due to strong company records.
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