from a West German correspondent Extensive short time working in the motor industry accompanies a steadily rising figure of unemployment - a figure which may well reach 700,000 by the end of the winter period. Whereas in the past the number of registered vacancies has exceeded by six or seven times the number of unemployed, the balance is expected to be reversed during the next few months and is already ominously close. Amongst the short time decisions which have already been reached are :- Opel - no work between Christmas and New Year, and closure of the company's Bochum plant for four days during January; Volkswagen - complete closure for 16 days during the first three months of 1967; Kloekner-Humboldt closure of lorry plant between Christmas and New Year, and for two weeks in January; Tyre manufacturers - production cut-backs throughout the industry; Bosch - 35,000 to be out of work between Christmas and New Year, with further closures likely in January. The short time working is not confined to the motor industry. Steel production has been heavily affected, and in the coal industry no less than one million man shifts have been lost by the expedient of telling miners to stop at home for a day at a time.
em Share Ownership, contd.
a By their relatively large cross shareholdings in each other/ the limited participation by the small shareholders, the trust and fund managers have made themselves into self-perpetuating boards. Thus the increased tendency for ordinary peepike tc buy shares actually concentrates effective control.
ale di ee