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Economy / Market / Phase I and II #13300

ABC Evening News for Friday, Nov 12, 1971
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(Studio) Report on reaction to phase I.
REPORTER: Harry Reasoner

(NYC) Wage-price freeze helped stock market Chart of improvement shown. Mkt. immune by September [Mkt. Analyst Monte GORDON - describes sobering 2nd thoughts of market with regard to phase I and uncertainty with regard to government ability to run such program.] Mkt. reaction to phase II poor. Confidence needed.
REPORTER: David Snell

(Detroit, Michigan) 1/4 of every United States dollar goes to auto and related services. One million autos sold in October Car buying high; freeze stimulated car sales. [Vice President Ford Sales Matt McLAUGHLIN - says always cautious; notes enough inventory to take care of future sales increases] Wage increases for auto workers as car prices will rise.
REPORTER: Ken. Gale

Reporter(s):
Gale, Kenneth.;
Reasoner, Harry;
Snell, David
Duration:
00:03:10

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