Word: discounter
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Dates: during 1960-1969
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...discount the upper windows of Wigglesworth--which is not such a good idea in the spring--the only building opening both into and out of the Yard is Wadsworth House. A yellow frame structure on Massachusetts Avenue, it serves as the University's architectural glad-hand and as the home of the Harvard College Fund...
Galbraith further criticized Rusk's optimistic evaluation of American support for the war effort. The State Department and the Administration "discount far too heavily the reactions of a rising political force in the United States -- that is especially important in the field of foreign policy. That is the college and university community...
...Eugene Ferkauf, founder, controlling stockholder and audacious boss of E. J. Korvette Inc. (TIME cover, July 6, 1962), success as the hero of U.S. discount selling is no bargain. It gives him less and less time to do what he really wants to do. He likes to play hooky from the office, go out to mind his stores. Dressed in his $32.50 Korvette suit, he fusses, fixes problems, scolds and cajoles salespeople. He fondles marked-down books and basketballs as if they were emeralds; in the art galleries of his stores, he browses proudly around the Picassos, Chagalls and other...
Meanwhile, Ferkauf was negotiating to merge Korvette with Spartans Industries, which makes low-cost clothing, owns 93 discount stores and last year had $226 million in sales. Ferkauf's interest was less in Spartans itself than in its chairman, Charles Bassine, 57, whom he describes as "a benign kind of boss with inspirational qualities and a great organizational reputation." The two men are more than merely old friends. Ferkauf's eldest daughter is engaged to Bassine's son. Ferkauf thinks that Bassine may be just the administrator he has long been looking for-and so, in future...
...plans to cash in most of their greenbacks for U.S. gold, a move that would cause a run on the dollar. They keep pointing out, however, that the U.S. could and should do more to balance its books. Said Bundesbank President Karl Blessing last week: "The raising of the discount rate last December was a step in this direction. A tax increase would also be such a step...