Word: coops
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Dates: during 1990-1999
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...Coop officials say, however, that there is no fortune to be made in textbook sales. In fact, they say that textbooks are offered more as a service to students than a profitable venture...
...Coop President Jeremiah P. Murphy '73 was happy to explain where the 25 to 28 percent retailer markup on a textbook goes. Of this markup, about 11 percent goes to the administrative costs of book purchasing, including hiring staff to obtain book lists from professors...
...further 2 percent of the sale price covers the costs of book transportation to the Coop--and back on unsold texts and returns...
...cooperative, any profit must be returned to its members proportional to their purchases. The rebate for the previous fiscal year was announced in October as 4.5 percent. Since the standard Coop profit on a textbook sale is 2.5 percent lower than the rebate, the Coop actually takes a loss on textbook sales to Coop members...
...Coop is a cooperative corporation that was setup in 1882 by students at Harvard to reduce their cost of living," Murphy says. "We are not directly connected financially with the University, but our by-laws commit us to service the University community...