Word: fair
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Dates: during 1950-1959
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...most of them native-born, some adopted-take off on a music trail that may lead not only to Europe's capitals but to the Belgian Congo and the rim of the Arctic Circle. This summer offers two special magnets for U.S. attractions: the Brussels World's Fair (highlights: the American Ballet Theater, the Philadelphia Orchestra, Louis Armstrong) and Italy's Festival of Two Worlds, organized by Gian Carlo Menotti (three new ballets by Choreographer Jerome Robbins, a new production of Verdi's Macbeth conducted by the Met's Thomas Schippers). At many other festivals...
...week's end the reduction on G.E.'s lines and those of the other Fair Traders hit 50% in some stores, but retailers thought they would soon settle down to the 25%-to-35% discount pattern U.S. consumers have come to accept as standard for appliances. Said Discounter Masters: "I congratulate G.E. on finally recognizing the truth of what we've been saying for years-that Fair Trade is unfair to consumer and manufacturer alike...
Lost Cause. G.E. had been leading a lost cause ever since 1952, when the federal McGuire Act legalized Fair Trade laws. In Fair Trade states, manufacturers, exempted by the McGuire Act from antitrust prosecution, were permitted to fix minimum prices for an entire state so long as they signed a contract with one dealer; all others were bound, whether they signed or not. Yet no sooner were the laws on the books than retailers started breaking them, cut prices far below company minimums. In five years G.E. alone spent almost $5,000,000 tracking down violators, brought suit against more...
...Masters Inc., whose 44-year-old boss, Stephen Masters, has built a $45 million-a-year discount business, selling everything at 20% to 45% off list. After G.E. won the suit against Masters in New York. Masters opened a mail-order discount business in Washington, D.C., which has no Fair Trade law. Masters offered merchandise for sale anywhere, including Fair Trade states. G.E. sued again, but when the U.S. Supreme Court refused to review a lower-court decision in favor of Masters, G.E. was licked...
...WHEN General Electric gave up Fair Trade and minimum-fixed prices for its wares last week (see Retail Trade), it belatedly recognized a basic fact of modern U.S. retailing. Nobody, or practically nobody, pays list price any more-for appliances, or for autos, furniture, cameras, jewelry, even baby buggies. As one Milwaukee retailer says: "The price tag on my merchandise means nothing...