Word: corp
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Dates: during 1960-1969
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INSTALLMENT LOANS for Europeans will be offered by Baltimore's Commercial Credit Co., second biggest sales finance company in U.S. (first: C.I.T. Financial Corp.). Commercial Credit will be first U.S. credit firm in Europe, operate through established European companies...
Simplicity also shows up in the scramble for self-service, and the laborsaving device. In Manhattan, Macy's last week introduced a Universal Match Corp. vending machine that dispenses men's T shirts and shorts in various sizes, makes change not only from coins but from currency up to $5. Bellringers Restaurant in suburban Chicago, which once served only cold dishes and fried items, recently added twelve meat dishes, 20 casseroles and five hot sandwiches to its menu-without adding a kitchen. The secret: precooked foods warmed in an electronic oven, similar to airplane meals. On the Indiana...
There are other reasons besides wages for going abroad. The International Telephone & Telegraph Corp., which announced last week that it may soon resume sales of foreign-made consumer equipment (radios, appliances, etc.) in the U.S., is already bringing in automatic post-office equipment made by its Belgian and German subsidiaries. Reason: I.T. & T. says that the equipment is technically superior to any available in the U.S. Manhattan's Lafayette Brass Manufacturing
...made products under their own U.S. labels and play down their overseas operations. Some businessmen make no secret about their foreign imports, vigorously defend the practice, argue that it can make jobs for U.S. workers rather than take them away. Says President Ray Eppert of Detroit's Burroughs Corp., which shifted its entire output of calculators from Detroit to Scotland: "As additional products are transferred abroad on a competitive basis, we will be able to produce new products here. We will import from foreign subsidiaries, thus protecting the American market, and export to them products involving the new technology...
...Walter Hoving, 62, quit as president and chairman-designate of Manhattan-headquartered, high-fashion Bonwit Teller, also resigned as president of the Hoving Corp., a holding company that controls 52% of Tiffany's but is in turn held by the giant (1959 sales: $276 million) Genesco, Inc. Taking over as president at Bonwit Teller is Edgar Wherry, 54, now vice president of J. W. Robinson, a Los Angeles department store chain, and longtime merchandise manager at Manhattan's Lord & Taylor. Reason for Hoving's move: he hopes to buy Tiffany's from Genesco...