Published June 2, 1975 "I'm sure you're all familiar with the concept of business cycles. Now, at this point in time we are in the lousy part of this particular cycle." Company director at stockholders' meeting, pointing to line on graph behind him that goes straight down. Photo licensed from the Cond? Nast Collection, home of The New Yorker, Vogue, Vanity Fair and other popular brands. Find this and other artwork at the Cond? Nast Collection.