Word: amway
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Dates: during 1979-1979
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...Andel is an ardent advocate of the free enterprise system and fully enjoys its rewards. He is chairman and co-owner of Amway (a contraction of American way) Corp., one of the nation's most successful private firms, which is engaged in what he calls "in-the-home selling." In this its 20th year, Amway expects to retail $750 million worth of cosmetics, vitamins, jewelry, home-care products and some 4,000 brand-name appliances and other items direct to customers through catalogues by a network of 300,000 door-to-door salespeople. Amway's achievements are evident...
...past four years, the Federal Trade Commission has been investigating Amway on a variety of charges that include fixing the retail prices that its independent salespeople could charge, allocating sales territories and misrepresenting the amount of money that distributors could earn. Last July an administrative-law judge in Washington threw out most of the FTC'S charges, but found that Amway was guilty of fixing prices. Amway officials contended that the practice had been discontinued in 1972. The judge's decision pleased neither Amway's nor the FTC'S lawyers, and both filed appeals. A ruling...