Word: cleanup
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Dates: during 1960-1969
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...same performance. The same luxury. The same Chrysler. But at a final clearance price." Carmakers offer trips to Hawaii or Puerto Rico for the most successful salesmen and their wives; the salesmen smile more and persist longer with customers. That is what happens during the annual automobile "cleanup, when automen are anxious to get rid of last year's cars and prepare the public for the coming year's models...
Only Right. Carmakers grant rebates to dealers on autos sold during the cleanup. The average rebate is $200, but it can run much higher on expensive models. This bonus is what enables dealers to pare prices in late summer. It is only right that the buyer pay a lower price than usual because a car sold late in the model year has already suffered a good deal of depreciation; in a few weeks it will be "last year's car," worth about $700 less for a compact and $2,000 less for some luxury models. During the next...
...Congress gave the U.S. Food and Drug Administration a franchise to rule on the efficacy as well as the safety of all new drugs offered for licensing. The lawmakers also invited the FDA to tackle a forbidding and involved cleanup job. From 1938 to 1962, some 7,000 new drugs had been marketed and during that period the FDA had final say on their safety but not their efficacy. The assignment from Capitol Hill was to recheck all of the drugs to determine whether they worked as advertised...
Even the whites had to admit that the black government was bringing a new vitality to the sleepy town. A city cleanup campaign was immediately launched, particularly in neglected black neighborhoods. Evers also made it clear that he was going to be a law-and-order mayor. Among his responsibilities is to serve as police justice, which gives clout to Evers' inaugural promise that there would be "no more clownin', and cursin' and disrespectin' people in the streets." Last week he fined a white from Louisiana $25 for reckless driving; a local black paid...
Lane is prepared to lend $15 million in the poor neighborhoods and spend $1,000,000 a year in cleanup campaigns. He also intends to expand his program far beyond that by seeking such large depositors as the Ford Foundation and converting their money into high-risk loans. "Lowincome people need money," says Lane, "and the banks have got to give it to them...