With the exception of the auto manufacturers, probably no U.S. businessmen stand to gain more from President Nixon's economic program than the machine-tool makers. The investment tax credit should boost lagging sales, and the 10% surcharge on imports should reduce competition from Europe, Canada and Japan. Yet even assuming that the new Nixonomics work, the industry's leaders see no real boom in the near future. Says Michael Sheu, marketing manager for Cincinnati's G.A. Gray Co.: "We're not expecting more than 7% to 9% in real growth next year."
That would be a...
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