Word: dividend
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Brown points to a number of factors which again forced the Coop to lower its dividend rate last year. Although sales have continued to grow (they were over $16 million this year, compared to $15,282,000 two years ago), expenses have risen at a faster rate. Marginality has finally caught up with the Coop. For years the Coop had endeavored to give in a sense a double discount. Besides the patronage refund, the Coop has always made a point of pricing as low as or lower than its competition. In fact, the Coop was founded...
...arrival of the discount house in the last ten years has really put us in a squeeze." Brown admits. "We have always tried to price as low as anyone, but now that low is relatively much lower than before. In order to get a dividend, the Coop must cut corners wherever it can. The rebate has to come from somewhere if it doesn't come from higher prices. You can't have a superlative store and fixturing. $5-an-hour sales people, maintain discount prices, provide a lot of service in the form of special orders and still expect...
...Illusion. People have been busily slicing up the still hypothetical peace dividend for a long time. Thus it was considerably dismaying when, on the eve of the conference, Daniel Moynihan, the executive secretary of the Urban Affairs Council, informed the nation that any peace dividend that accrued would quickly be soaked up by increased defense costs and burgeoning domestic programs such as welfare and aid to education. But Presidential Counsel Arthur Burns was an early guest of the Governors, and he had more hopeful news. There had been a "little misunderstanding" of Moynihan's remarks, he allowed...
...inform the Governors that "dreams of unlimited billions being released once the war in Viet Nam ends are just that-dreams. True, there will be additional money, but the claims on it already are enormous. There should be no illusion that what some call the 'peace and growth dividend' will automatically solve our national problems." Added the President: "In order to find the money for new programs, we will have to trim it out of old ones...
That was bleak news, and New York Governor Nelson Rockefeller, once again the dominant spokesman for the nation's Governors, refused to accept it. He changed the subject from the peace dividend to what is known as the "growth dividend," resulting from the normal expansion of the U.S. economy. Rockefeller reported that a study commissioned by the Governors Conference Committee on Human Resources, which he headed, had produced some interesting figures. Never mind whether any money comes from the slowdown in Viet Nam; the study projected that federal revenues would increase by $15 billion in 1970, $16 billion...