Word: bulova
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...Arde Bulova, whose company sells more jeweled watches than any other in the U.S., was wound up like a mainspring. It was the middle of his busiest season. And the Justice Department, looking into the American watch industry's dealings with the Swiss cartel, had made what he thought was an unreasonable request. It had asked Bulova, along with other U.S. watch companies, to turn over hundreds of documents concerning their business, and had set a deadline for last week. Said Arde Bulova: "I wanted to answer them very briefly and simply: 'Don't bother...
...Bulova Watch Co. makes no secret of the fact that it does business with a cartel. Like other U.S. watchmakers who import Swiss movements, it has to; the Swiss passed a law in 1951 cartelizing their entire watch industry. Since 86% of all jewel movements sold in this country come from Switzerland (about 70% of Bulova's do), virtually every U.S. maker deals with the cartel. In doing so, the industry knuckles under to a tightly closed shop. The Swiss dictate how much watches are to be sold for, where they may be sold, and how many a manufacturer...
...been able to compete with the Swiss in price. The cartel puts a tag of $4 on a 17-jewel movement; the U.S. tariff adds another $2.10. To make a 17-jewel movement in the U.S. costs $10.50. Higher duties narrow the price spread for 21-jewel movements. Therefore Bulova, biggest of the importers, has been forced into making only 21-jewel movements in the U.S. Although Bulova is the biggest U.S. manufacturer of jeweled watches, its production, along with the rest of the U.S. industry, has been dropping in the face of tough Swiss competition. Bulova now turns...
...General of the Army Omar Bradley will become chairman of the Bulova Watch Co.'s research and development laboratories when he retires as Chairman of the Joint Chiefs of Staff next month. He will boss the company's 120 scientists working on secret defense projects...
...week's end, several big U.S. manufacturers, importers and assemblers, whose movements are largely Swiss-made, ticked off arguments that bolstered the Swiss rather than the U.S. claims. The American Watch Association, which represents such American-owned companies with Swiss subsidiaries or plants as Benrus, Bulova, Gruen and Longines-Wittnauer, was quick to point out that out of every dollar spent in the U.S. for a Swiss watch, 85? stays in this country; only 15? goes to Switzerland. It was estimated that for every dollar the U.S. Tariff Commission may tack on to Swiss movements, the U.S. consumer will...