Word: clorox
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Millions of American housewives daily stop in front of a supermarket shelf and pick up a bar of Ivory soap, a box of Tide or Cheer, a package of Duncan Hines Cake Mix, a bottle of Clorox or Mr. Clean. For the maker of all these products, the Procter & Gamble Co. of Cincinnati, the pickings add up to sales of more than $2 billion a year and profits that reached $133.2 million in the fiscal year ended last June. P. & G. dwarfs its closest rivals, Colgate-Palmolive Co. (1964 sales: $806.6 million) and Lever Bros. Co. ($436.4 million...
...Clorox v. Purex. The FTC case arose from P. &G.'s acquisition in 1957 of Clorox Chemical Co., which held 49% of the market for liquid household bleaches. Second-place Purex Corp., which had 16% of the market, had managed by heavy promotion to boost its share in several areas, including the Erie, Pa., market, where it had captured 33%. Clorox, now backed by P. & G.'s marketing know-how and money, did not let the gains go unchallenged. It blanketed the areas with ads, offered $1 ironing-board covers for 50? and cut the price of Clorox...
...case has significance far beyond the possible loss of Clorox's nearly $40 million in annual sales. Its management has relied on acquisitions and such selling devices as giveaways and selective price cuts to keep P. & G. growing. Under the FTC's steady gaze, the company has already had to compete less aggressively and slow down its acquisition of new companies. The results are showing up in earnings: in 1960, before the FTC order, profits rose 20%; in 1964 they rose 13%; last year, earnings before taxes actually declined. Says President Howard J. Morgens...
...four-letter language that does not spell TIDE. As Defense Secretary he must walk the tightrope between sufficient defense and national extravagance; McElroy's own nature is such that he could, without batting an eye, decide to spend $30 million for Procter & Gamble to buy Clorox, yet at home in Cincinnati he long kept close personal tabs on the amount of gasoline his daughters bought...
ANTITRUST BATTLE is boiling up over Procter & Gamble's $30 million purchase of Clorox Chemical Co., biggest U.S. seller of household liquid bleach. Federal Trade Commission says that purchase gives P. & G. 48% of liquid-bleach market (v. 16% for nearest competitor), charges that combination of two companies may "substantially lessen competition" or "tend to create a monopoly" in home-laundry business...