Masonry Magazine January 1967 Page.25
- Increased productivity will accompany the larger sales, as higher capacity utilization reduces unit labor costs.
- Higher prices will restore and increase profit margins.
But there will be an important limit on the gain in profits that lies ahead. The labor settlements in autos and other lines will make wage rates rise a little faster. And, if a tax increase is voted in late winter, net after taxes will be held down. Many forecasters see no more than a 5% stepup in corporate earnings during 1968... at the very outside.
IT WILL BE NIXON VERSUS JOHNSON IN 1968
- that, at any rate, is what the political "pros" in Washington are saying at this time. They don't want to give long odds. Too many things can upset this forecast- and there is still about a year to go before the voting. If peace breaks out, or next spring's crucial primaries produce major surprises, all bets are off.
On the Republican side, Dick Nixon is still the first choice of influential party workers. And, since it looks as if the convention will be brokered rather than blitzed, their views could be crucial. They don't like Rockefeller; they would consider him, if he looked like a winner, of course but they don't think he can hold his recent popularity. Romney has slipped. Reagan is rising, but his support is too thin yet.
On the Democratic side, it is hard to see anyone but Lyndon Johnson, even though he is still behind in the polls. He controls all the party machinery. Bobby Kennedy won't make a run. And the liberals just have no one else to turn to.
JOHNSON HAS LOST A LOT OF HIS SUPPORT AMONG BUSINESSMEN. Political analysts believe this will hurt him in the campaign next year. To be sure, business leaders are relatively few in number. But their influence with the public is great. What's more, they rank among the largest of contributors to campaigns; with TV time so costly, money is a vitally important factor.
Many businessmen backed Johnson over Goldwater last time. Their support, while welcome, may not have been so critical in 1964. But in the close contest many are forecasting for 1968, the endorsement of businessmen could be significant.
Business leaders still support the President on Viet Nam. But they are disenchanted with his handling of key domestic problems. He hasn't cut spending or sold his surtax. He hasn't checked inflation or held down interest rates. And, meanwhile, the outlook for profits is very dull, at best.
MCAA TO HOLD ITS LARGEST CONVENTION. The Mason Contractors Association of America will hold its 18th Annual Convention in Atlanta, Feb. 17-20. Make your reservations now. masonry Nov./Dec., 1967
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