Word: discount
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Dates: during 1980-1989
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...goods produced by its sister company, London-based Lever Bros. Ltd. (Both are subsidiaries of Unilever, a British-Dutch consortium.) In 1983 the American Lever Bros. was enjoying splashy sales of its Shield deodorant soap and Sunlight dishwashing detergent when products with the same names began appearing at discount prices. Manufactured by the British Lever Bros., the soaps had been shipped to the U.S. by unauthorized middlemen. The U.S. firm complains that the British products have proved unsuited to American tastes and have thus driven away customers, costing it $5 million in sales. One charge: the British Shield is less...
...businesses as well. After four profitable years, the automaker has amassed a cash hoard of $8 billion, more than enough to finance research and development for several years plus another major acquisition. Last week the stock market buzzed with rumors that Ford was planning to buy the Charles Schwab discount brokerage firm or Lockheed, the aerospace company...
...chairman, who is a former Assistant Secretary of the Treasury, certified supply sider and onetime critic of the Reserve Board for being too tightfisted in its fight against inflation. So far, the new lineup seems to have done its job. Since last March the Fed has steadily reduced the discount rate that it charges on loans to member banks from 7 1/2% to 5 1/2%. Says Richard Rahn, chief economist for the U.S. Chamber of Commerce: "I don't think we would have had all those drops in interest rates without the new crowd...
...speculation that the Reaganites might wrest power from Chairman Paul Volcker, and perhaps even goad him into resigning, has proved to be off the * mark. Despite a brief, publicized dispute over a discount-rate cut in February, the Reagan appointees -- Johnson, Martha Seger, Wayne Angell and H. Robert Heller -- have generally worked well with Volcker and his allies Henry Wallich and Emmett Rice. Only Seger, a former Michigan bank regulator, has publicly sniped at Volcker. One of her complaints: the central bank's staff, which answers to the chairman, does not keep the other Fed governors fully informed...
...Francisco company realizes that its shareholders will scream foul unless it does something to rescue its foundering finances (more than $1 billion in losses in the past six quarters). To raise cash, BankAmerica has decided to consider selling one of its crown jewels, the highly profitable Charles Schwab discount-brokerage subsidiary. The most probable buyer is none other than Charles Schwab, the company's founder, who sold out to BankAmerica in 1983 for $52 million but remained head of the brokerage unit. To buy it back, banking analysts estimate, he will have to pay between $260 million and $300 million...