Word: discount
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Dates: during 1960-1969
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Those policies go well beyond the mere training of Yugoslav airmen: under the Truman and Eisenhower Administrations, the U.S. sold, at discount rates, tanks, guns and some 550 jet fighters, fighter-bombers and training aircraft to Yugoslavia. Upon departing from office. President Eisenhower left for John Kennedy a list of several programs he would want to review. Among them was a proposal for selling 130 F-86D jets to Yugoslavia for $10,000 each (original cost: about $345,000). The sale of those planes, listed as obsolescent (cries Texas' Knickerbocker: "The 'obsolete' F-86 is the same...
...Eager to break into discount selling, giant Montgomery Ward & Co. made a proposal to gregarious Sol William Cantor, 50, president of the 63-link Interstate Department Stores, whose annual sales rate has climbed from $90 million to $175 million since it entered discounting in 1959. With Wall Street's Lehman Bros, playing marriage broker. Ward's intends to pick up Interstate in a $50 million stock swap. The deal makes eminent sense to Manhattan's Cantor, who gives plenty of local autonomy to managers of Interstate's 42 standard department stores, but holds "a tight rein...
...Discount on Wall Street. Businessmen were not quite so happy at the consumer's tightfistedness. Builders saw little to cheer about in the fact that housing starts declined 2% in August. And though manufacturers' sales of consumer durables rose 1%, no fat backlog of unfilled orders was developing. One reason seemed to be that producers were delivering promptly because they still had plenty of unused plant. Excess capacity and intense competition served also as an inflationary brake, as was demonstrated last week when Aluminum Co. of America felt obliged to cut its basic ingot prices from...
While more and more retailers stampede customers with discount prices and waylay them near home with suburban branches, the pride of San Francisco's Post Street, Gump's Inc., prospers by remaining as aloof as Kipling's cat. With arrogant contempt for trends, Gump's eight years ago sold its only two branch stores (in Honolulu and Carmel, Calif.), and the nearest thing to a loss leader a Gump's customer can expect to find is a pair of pewter and brass candlesticks reduced from $250 to $125. Yet in a little more than...
Just Waiting. Though bargain-loving customers will benefit from the intensifying battle, many a retailer is going to be squeezed out of business. Both discounters and traditionalists agree that the most likely victims will be: 1) smaller neighborhood shops that can offer neither discount prices nor department store range of choice; 2) undercapitalized discounters who cannot afford to spend for service and a broad variety of merchandise; 3) stores whose owners are basically real estate operators leasing department space to individual merchants who operate under no central buying or pricing policy. Big Discounter Gerald 0. Kaye, chairman of Friendly Frost...