Word: brokering
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Beginning Nov. 1, the Mexican assembly plants of foreign auto firms will have to use Mexican cotton to pay for car and truck parts imported from their parent companies. To do business, the companies will have to make deals with a broker to try to sell Mexican cotton abroad. The companies then can import an equivalent value in car parts. Hard hit will be the U.S. Big Three-General Motors, Ford and Chrysler. If they manage to continue importing parts at the current rate (an estimated $60 million a year), the Big Three will have to market...
...starts, off 200,000 from last year. So far, builders are not too worried; the trend to bigger, more expensive houses has helped maintain a high dollar volume. Nevertheless, the decline has given a big boost to a little-known idea: trade-in housing. Detroit Builder-Broker Gordon Williamson, who used to sell cars in the '20s, says that real-estate dealers are today at the point where auto dealers found themselves 30 years ago; they are going to have to handle trade-in houses to stay in business, because "we're running out of first-home buyers...
...Detroit, where the idea is widespread, Edward Rose & Sons, one of the area's biggest builder-brokers, works this way: when the prospective house buyer cannot finance the deal until his old house is sold, Rose contracts to buy the house at a fair market price, puts it up for sale. If the old house is sold before the new one is ready, Rose simply charges the standard 5% broker's commission. Otherwise he moves the buyer into the new house and takes up his option on the trade-in at the mutually agreed price, less...
Connelly and Caudle were accused of accepting gifts in return for their help in trying to head off the trial of St. Louis Shoe Broker Irving Sachs, who later pleaded guilty to income-tax evasion and was fined $40,000. What the jury decided Connelly got: a topcoat, two suits of clothes and an oil royalty worth $3,600 (Connelly said he had put up $750 for the royalty and did not know it had cost more). What the jury decided Caudle got: an oil royalty worth $3,300 (Caudle said he had angrily ordered Sachs's agent...
Tito (who is making a triumphal return call to Moscow this week) has recently been acting as self-appointed broker for Russia's Nikita Khrushchev in the Communist campaign to woo Western socialists. The campaign has not been going at all well, particularly since B. & K.'s disastrous' dinner with British Laborites (TIME, May 7). Last week Tito's patience broke down when he received a letter from Phillips bringing up the subject of the shabby treatment given to Djilas...