Word: coops
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Martin wore a black sleeveless top with the word “Harvard” emblazoned in a burst of glittery print. It didn’t look like anything they sell in the Coop...
...seriously, if you don’t take it off and return it to the Coop by 12 p.m. tomorrow you may be charged...
...Instead of paying 25-35 percent on speculation books, the Coop should pay 10 percent, and use the savings to speculate on an additional 1500 titles that would otherwise go to the wholesaler. On buyback day, students would get less cash than they do now, but the Coop computers would keep track of how little it paid each student for each book. This wouldn’t be hard—the Coop already keeps track of our purchases and sends us refund checks at the end of the year...
...months later, when professors belatedly send their orders in, the Coop would find out what books it really needs. For students, the beauty of the plan comes at rebate season: The Coop would reimburse people who sold books that professors reordered with an additional 35 percent of the new price, added onto their annual rebate checks. Although a higher percentage of speculations would not be reordered, these costs would be cancelled out because the Coop would only be paying ten percent for all speculations, and failed speculations could be sold to the wholesaler...
This plan could work independently at all six M.I.T. and Harvard Coop locations, saving both the Coop and its customers huge amounts of money. And management is interested: Steve Babbit said, “That’s an idea we should bring up. I’m willing to bring the idea to the Coop board.” After all, when the Coop and students share the risks and benefits of speculation, everyone has more money to spend on midnight pizza, beer and, well, more books...