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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jan 23, 1973
Page
4
Unstable Penn Central debt and bankruptcy spur nationalization talk alongside Amtrak. Lawmakers discuss a commission to decide Penn Central's fate, with observers forecasting piecemeal government control rather than full takeover.
Joseph Tarrish, president of J.C. Tarrish Co., cites rising national interest in Arizona with Phoenix-Tucson corridor growth driving acquisitions. He notes private firms attracting big corporations as the combined metro area nears national top markets by 2000. Tarrish reports over 75 million dollars in acquisitions in four years.
A Patton Agency survey of Valley accounts predicts brighter 1973 for area business. Valley Chevy Dealers expect 25.4 percent more auto sales and 27.6 percent more trucks in 1973 after a 1972 year with 13,546 Chevrolet units and 8,610 trucks, both up from 1971. Pepsi-Cola Metropolitan Bottling reports 1972 as peak year. Park Central Shopping Center notes 18.2 percent statewide rise with local gains and Greyhound relocation boosting office foot traffic. Yellow Cab projects a 10 percent revenue rise in 1973. Southwest Feed & Seed cites strong dairy and cattle growth. Red Carpet Realtors show roughly 20 percent more offices and resales in January 1972 to 1973.
Hughes Airwest announces a net profit of over 1.9 million dollars for 1972, its first annual profit. The turnaround began in April 1970 after management took over a deficit carrier then called Air West Inc. and aimed for a reasonable ROI amid a four month labor dispute and high startup costs.
California leads the nation in manufacturing value added, surpassing New York. Wilbur McCann notes 30,000 California plants create about 30 billion dollars in added value with 1.52 million workers, while New York has roughly 38,000 plants and 1.61 million workers generating about 29 billion in value added.
The market reacted to Phase III ending most wage and price controls with an initial Dow surge to a record close, then a retreat as inflation fears and rising interest rates emerged. Analysts note uncertainty and shifting Treasury leadership may shape inflation and policy.
The Phoenix Chapter of Executives' Secretaries Inc installed new officers at an Del Webb's Townehouse dinner. Mrs Gordon Lokey CPS of First Federal Savings became president, succeeding Mrs Dale Wilcox. New officers include Mrs Robert Logan vice president Mrs Jack Collins secretary and Miss Corrine Crow treasurer. New board members are Mrs Larry Lohman Mrs Margaret Fedigan Mrs Si William Gimbel Mrs Robert Markow and Mrs Denis Kelleher. The organization spans 63 chapters in the US and Canada with over 2600 member firms.
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