Word: discount
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Dates: during 1960-1969
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...spirit of '32 has been rekindled by volatile "Jango" Goulart. After 2½ years of political zigs and zags and soaring inflation, the President last month lunged sharply left, seeking power in ways that deeply disturb and alarm many of his countrymen. Goulart has cut off all discount loans from the Bank of Brazil to politically unfriendly banks, has nationalized oil refineries and threatened to expropriate almost everything else in sight. He favors legalizing the Communist Party, is campaigning also for sweeping constitutional "reforms" that would enfranchise millions of illiterates, lift the constitutional ban on a second straight term...
...intend to begin fighting inflation until inflation begins." The tall, spare Nebraskan fought the board's decision to raise stock-margin requirements from 50% to 70% last November (he wanted a 10% boost), and was the only member to vote against last July's discount rate hike from 3% to 3.5%. A lawyer of direct style and breezy off-hours informality, he was in a Washington junkyard looking for an iron fence for his home when his reappointment was announced...
EXPANDING a dime-store chain into the discount business has been an $80 million gamble for Harry Blair Cunningham, 56, president of S.S. Kresge Co. The gamble seems to be paying off: last week Kresge opened four more of its K-Marts, raising the total of its discount branches to 61 out of a chain of 876 stores. Detroit-based Kresge still ranks behind Woolworth...
...about how its ashtrays are always clean, Hertz quips that there are "no ifs, ands or butts" about the offer. Last week Hertz moved against its budget competition as well by announcing the formation of a new company, called Valcar Rentals Corp., that will rent full-sized cars at discount rates...
Selling by catalogue, which long ago ceased being aimed mostly at rural America, today is the fastest-growing trend in retailing since the birth of the discount store. Catalogue sales have grown 60% in the last decade, rose 10% to a record $2.4 billion. Though the market is still dominated by Sears, Montgomery Ward, Spiegel and Aldens, more and more companies are entering the field. Six months ago giant J. C. Penney (1,667 chain stores) began selling by catalogue. Last week another big company made a strong bid to win a foothold in the market: Western Auto Supply...