Word: businessmen
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Dates: during 1950-1959
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Germans this year will spend an estimated $400 million on their European travels. About 30% of them are students who go by bicycle, motorcycle or hitchhike, and often camp out. Another 60% are the middleclass, ranging from teachers to small businessmen, who travel by car, railroad or bus and live in small hotels and boarding houses. The remaining 10% are the wealthy, the Ruhr industrialists and Frankfurt bankers, who make their rounds with expensive movie cameras, stay in the palace hotels, demand the best and are willing to pay for it. They are even more visible than Americans. The French...
Actually, the nation's banking system is in good shape for recovery without returning to tight money. Banks have plenty of credit available for businessmen. Despite the Fed's action, free reserves are well above $350 million, where bankers consider that credit begins to tighten. Though short-term interest rates have improved, most bankers expect the prime rate to hold at 3½% for some time because there is still no big jump in industry's demand for money. Business loans, which dropped $1.8 billion in the first half of 1958, show only slight signs of picking...
...ultimate salvation of the country club may well be the same thing that, makes supermarkets a multibillion-dollar business: mass appeal at mass prices. Unlike the old-fashioned clubs owned by members, a new class of club is starting up owned by businessmen, who frankly aim at big memberships as the road to survival. In Dallas, eight new clubs have opened since the prewar era, and most of them run one membership drive after another. Four more are being formed. In Denver, the Pinehurst Country Club will open next spring on 300 acres to cater to the new class...
...best German makes, Japan now enjoys a $6,800,000 export market in the U.S. The Japanese are convinced that it could be bigger still were it not for dozens of other camera makers, who get around export regulations by labeling their third-rate products "toys." Once Japanese businessmen winked at the practice. Today, it aggravates them so that Matsushita Electric Industries Co., Japan's biggest electrical-communications maker, withdrew from the U.S. transistor market "rather than lose face." Matsushita intends to launch a sales campaign, win U.S. consumer confidence by providing service for its radios...
...Businessmen are well aware that long-term contracts have many advantages. Management need not fear a production-crippling strike for three, four, even five years. Long-term contracts spare labor and management alike the heavy expense of time and treasure that yearly bargaining sessions require. With a fixed wage pattern, companies can plan ahead years in advance, knowing what their labor bill will be; they are able to guarantee delivery without interruptions. Were it not for long-term contracts in the auto industry, for example, countless auto suppliers would live from hand to mouth, not knowing from...