Word: gimbel
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Dates: during 1940-1949
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Born. To Henry Benjamin ("Hank") Greenberg, 36, baseball's current home-run king, and Caral Gimbel Greenberg, 31, an heiress to Gimbel Bros.-Saks Fifth Avenue millions: their first child, a son; in New York City. Name: Glenn Hank. Weight...
...Manhattan's Macy's and Gimbels were still at it. This time, Macy's swung first. Well aware that one of Gimbel's heartiest chest-thumpings has been that Gimbels was "first in the world with the ball-point pen," Macy's asked in full-page ads: "Do you own a horse-and-buggy ball-point pen?" If so, no matter where it was bought, and if it cost more than $3.50, Macy's would take it back, allow $3 credit towards the purchase of any ball-point pen priced at $12.50 or more...
...When Gimbels' big, sleepy-eyed managing director Frederick A. Gimbel heard about this, he promptly set out to make the most of it. Off he lumbered to Manhattan newspapers with full-page ads proclaiming that "NOBODY BUT NOBODY HAS EVER BEATEN GIMBELS AT ... KEEPING PRICES DOWN." Gimbels' case: on $41,861,000 worth of goods sold between Feb. 1 and Sept. 30 (a rise of 50% over the same period in 1945), Gimbels, said he, had consistently undersold Macy's; Gimbels' overall average markup was only 31.47%, about 1½% under Macy...
...Fred Gimbel sent Macy's Straus a direct challenge. He offered to bet $25,000, $50,000 "or any amount you care to name" (with the winnings to go to charity) that Macy's could not disprove his claim to the underselling championship of Herald Square. At Macy's, where they have a policy against opening books and telling Gimbals, there were no takers...
...food processors also won an E. Cream of Wheat's $631,549 nearly doubled its comparable 1945 earnings. Standard Brands topped last year's comparable earnings by 22%, General Foods by 16%. Sunshine Biscuit more than doubled also. So did department stores. Typical example: Gimbel Bros, had a net of some $8.5 million for the first six months, a fat 248% better than last year's first half. Up also were many utilities, pharmaceuticals, paper, containers, building products, liquor...