Word: coops
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Dates: during 1990-1999
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...Coop offered lower prices; the store's profits were mandated to be only five percent above wholesale value. Any profits that were earned were given back to the members in the form of a yearly rebate...
...Coop flourished, and soon it was serving MIT students and faculty, as well as doing more business with "non-members"--the residents of Cambridge. Although not eligible for the rebates enjoyed by members, many non-members found the Coop's prices and merchandise to be quite reasonable...
...Coop of today has all but abandoned its original purpose. It was founded in 1882 by a group of Harvard students who felt that the prices offered by Harvard Square merchants were excessively high. Thus, these ambitious students decided to open a store to provide members--students, faculty or employees of the College--with cheaper books, notebooks, pens, furniture, wood and coal...
Despite this expansion, the directors never lost sight of the Coop's original purpose: to provide savings to students and faculty. Prices continued to be very competitive, and the rebate stayed around 10 percent for many years...
Somewhere along the line, as the Coop grew into the sprawling department store that it is today, the once-attractive prices grew higher and higher. Now, almost anything on sale in the Coop can be found elsewhere for a substantially lower price...