Word: discounts
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Dates: during 1950-1959
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...Investment of private capital should be fostered. Under the present system, the Government pays the cost of shipbuilding, sells the finished vessel to the operator at a 40% to 45% discount (the construction differential). Murray wants shipowners to use private cash to build new ships, have the Government contribute only the construction differential. The Government would guarantee up to 100% of the shipbuilding loans...
...many U.S. retailers, the greatest worry is not a recession. It is a fear of the discount houses at which shoppers can buy electrical appliances and hundreds of other articles at 20% to 40% off the list price. Since World War II, discount houses have cropped up in almost every large U.S. city; there are now some 6,000 stores, which operate from Maine to the Mexican border. This year, total discount-house sales in the nation will be about $5 billion. Many small retailers worry that the booming discount houses will do to them what cash & carry supermarkets...
...discount house is not a new idea. "Wholesale" houses of one kind or another have existed for years. What is new, and frightening to retailers, is the small markup on which the discounters operate. Since they usually spend no money on displays, give no credit or free delivery, and rarely advertise their wares, their overhead is small and the saving is passed on to the consumer. "In addition to the trade discount, we get an extra 1¼ discount by paying cash for everything we buy," says Los Angeles' William E. Phillips, whose discount house grossed...
...rise of the discount house is in almost direct ratio to the passage of the Fair Trade laws in the 30s, which were designed to stop "discounts" and drastic price-cutting. The Fair Trade prices were so high that they left a fat margin for the discounter to cut. The laws can be enforced against big, well-known stores (e.g., New York's R. H. Macy & Co., Bloomingdale Bros., Abraham & Straus), but few manufacturers have the time or energy to slap a lawsuit on every small discounter. Some big companies such as Sunbeam, Magnavox and General Electric are trying...
Over and above the Fair Trade laws, another big reason for the growth of the discount houses is the attitude of the established retailers themselves. Too many businessmen have not made the adjustment from a wartime sellers' market with its shortages and high prices to the buyers' market of 1954. Instead of shaving profit margins to give consumers the benefits of the enormous postwar volume of sales, they have kept their prices high...