1962 was the year in which the profit squeeze became not only an unpleasant phrase but an unhappy reality. When corporate executives could not push their sales up, they set out to work their costs down.
Last week the appearance of the first fourth-quarter earnings reports showed encouraging proof that the profit squeeze can be successfully overcomeĀand added substance to business's expectations of a 10% overall profit increase in 1963. Almost without exception, the brightest examples among the new earnings were recorded by businesses that were not content simply to complain about...
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