State of Business: Consequences of Clubmanship

Across the U.S., there are businessmen prepared to argue that the much-prophesied "1963 recession'' is already over even before 1963 arrives. Speaking in Washington, U.S. Chamber of Commerce President H. Ladd Plumley said: "One could almost say that we did, indeed, have a recession and are on the way to recovery." In New York, G.E. Chairman Ralph Cordiner sounded much the same note: "There has been quite a significant change in the economy . . . There's more resiliency now."

Most explicit exponent of the theory is Frederick A. Stahl, president of Manhattan's Standard & Poor's Corp....

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!