Word: cottoned
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...wartime refugee, Vienna-born Bluhdorn came to Manhattan at 16, immediately went to work as a $15-a-week clerk in a cotton brokerage house. Later he rose to a $60-a-week job in a commodities house, where he learned the intricacies of that gyrating business and discovered the secret that got him going: fortunes can be made on a meager stake in international trade. At 23, he invested $3,000 and started his own export-import business in a small Manhattan office. Within eight years he had bagged his first million by buying an awful lot of coffee...
Land developers also do handsomely. In 1956 a former cotton picker named Michael Mungo began studying population trends in and around Columbia, S.C., saw that all signs pointed to rising growth in suburban areas. He bought up outlying land for $282.50 an acre, put in water lines and some other improvements; the land now sells for $11,000 an acre. Result: Mungo, at 37, is worth...
Though Japan is still the world's biggest exporter of cotton goods, its cotton-spinning industry has been declining steadily for a decade. Stepped-up international competition, notably from the U.S., Britain and West Germany, has cut Japan's share of the world market from 30% in 1955 to 22% last year. Cutthroat rivalry at home has helped shave profit margins from an average of 8% ten years ago to barely 1.4% today. All the while, the rapid rise of synthetic fibers has done much to dampen world demand for cottons...
Last week, seeking to improve their fortunes through consolidation and streamlining, two of Japan's leading cotton-spinning companies decided to become one. Toyobo Co., the leading spinner (1964 sales: $250 million), announced that it would merge with fourth-ranking Kureha Spinning Co. (1964 sales: $100 million). The surprise merger was the best evidence yet that Japan's tradition-bound cotton industry is at last beginning to meet the challenges that face...
...cheap "dollar blouses" with which Japan flooded world markets in the 1950s. The reaction is still strong. This year, sweeping import barriers set up by Japan's major African customers (Nigeria, Tanzania, Kenya and Uganda) will contribute substantially to an estimated 5% decline in the country's cotton exports. On top of this, Japan is losing ground in traditional markets simply because spinners in other countries have been quicker to modernize, and thus to undersell the Japanese...