Word: chaine
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Dates: during 1960-1969
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Facing Facts. The man who first suspected how far was Joseph E. Jessop, president of a chain of jewelry stores and the patriarch of a family that has been in San Diego since 1890. In 1959, Jessop, who had already begun to move his own stores out to the suburbs, called together a group of 60 leading businessmen to start facing the hard facts. "Up to this point," Jessop recalls, "San Diego was only penny ante. If you asked them for a contribution, they wrote you a check for $200." Jessop demanded-and got-$100,000 "for a start." With...
...towners never made it. The afternoon Tucson Daily Citizen (circ. 45,000) beat them to the draw by anteing up $10 million for the Star because of "a desire to see this strong, outspoken newspaper remain a vital force in Tucson, rather than become just another link in a chain...
...spired by local loyalty, the Justice Department thought differently. Last week trustbusters descended on Tucson, charged that the Citizen-Star deal was illegal on the ground that it violated both the Clayton and Sherman antitrust acts. Justice Department arguments echoed those used last June against the Scripps-Howard chain. In that suit, the Government charged that chain ownership of both the morning Enquirer and evening Post & Times-Star in Cincinnati constituted a monopoly, even though the two papers had separate plants, staffs and editorial policies, an arrangement that Scripps-Howard deliberately nourished to discourage a federal suit...
...Manhattan store last week moved one of the toughest customers ever to confront a salesperson. As the board chairman of R. H. Macy & Co., Jack Isidor Straus is not only the biggest man in the world's biggest store but the chief executive of a 49-store chain that serves 110 million people a year. Yet Jack Straus, at 64, enjoys none of his duties so much as that of playing the indignant consumer. A man with the saucer eyes and eager fingers of a shopper ready to seize a bargain, he moves through Macy's like...
...never the fanciest bazaar in Manhattan, and it has also become outmoded: less than 50% of its area can be devoted to selling space v. 75% in newer stores. Its sales, while huge, have barely changed in ten years. The store rings up a quarter of the Macy chain's total business, which last year amounted to $623.5 million. Profits of the chain are thin-$11.7 million after taxes-partly because the costs of operating in New York are high...