Word: cuts
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Dates: during 1940-1949
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...rate, thus setting a new rate in London of ?125. But from London eastward to Cairo, New Delhi, etc., fares will remain unchanged at their old rate in pounds, francs, etc. That meant that U.S. airlines will have to take as much as a 30% cut in dollar fares to compete. On the sea lanes, Britain's luxury liners, a prime source of dollar revenue, promptly raised their pound fares at least 30% to keep their dollar intake the same...
...some British salesmen in the U.S. found that business boomed as soon as prices were cut. Britain's Drake America Corp. slashed men's Argyle socks 22%, cashmere sweaters 20%, and most other goods accordingly. In two days, it booked $1,250,000 worth of orders. Austin Motors Co. Ltd., which had slashed its prices from 11 to 15%, sold out its entire U.S. stock of 1,000 cars in the first two days after devaluation, promptly ordered 500 more. But such price cuts seemed likely to last only in those British goods, such as autos, which...
Good for Everyone. On the other hand, many U.S. exporters of machine tools, autos and farm equipment, feared that cheaper sterling would cut deeply into their markets in South America and overseas. On the whole, Harvard's Economist Sumner H. Slichter thought devaluation would benefit the U.S. economy. Said he: "American business concerns have been reluctant to go after business by cutting prices . . . Foreign goods at lower prices will stimulate at least a small amount of price-cutting in the U.S. . . . [And] any success of other countries in selling to the U.S. will simply increase their demand for American...
...locating his store on a busy highway near the Indiana line and selling at cut rates, Meyer Jacob had become one of Chicago's biggest liquor dealers. But when the state legislature passed the Mandatory Fair Trade Act in July 1947, the state liquor commission tried to suspend his license for selling Penn Springs whisky 95? cheaper than the fair trade (i.e., minimum retail) price. Jacob kept his license while he fought the case through the courts...
...optionless long-term contract that runs through 1951, Wald gets some comfort from recognition. He flirts occasionally with another studio to learn how much he is really worth, and does not object to pressagents trumpeting his praises. Recently, when Jack Warner ordered a publicity blackout on Wald, ostensibly to cut down demands on his prize producer's valuable time, Wald put up a fight and got the order reversed...