Word: goodyears
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...little businessmen arrived in Washington last week just in time to hear another piece of news sweet to the ears. After more than two years of hearings in various cities of the land, the Federal Trade Commission ordered Goodyear Tire & Rubber to cease and desist from granting special favors to Sears, Roebuck & Co. in return for the privilege of making the tires that Sears sells under its own brand names. This mail-order business has often accounted for 10% of Goodyear's total sales...
...Present Goodyear-Sears contract calls for at least 1.800 tires per day at cost plus 6% or 6½% depending on rubber prices (TIME, Jan. 29, 1934). After Goodyear has had time to figure its costs accurately, the contract permits "adjustments," which have worked with remarkable regularity in Sears' favor. The Trade Commission now says these are nothing more nor less than "secret rebates," a fighting phrase since the days of John D. Rockefeller...
...Goodyear's President Paul Litchfield the Trade Commission's findings were just another problem in his currently harassed life. For the past fortnight Mr. Litchfield had been living in his Akron, Ohio plant, besieged by striking rubber workers. Emerging from his industrial fortress for the first time in two weeks, President Litchfield found time to declare: "We will appeal the decision of the Federal Trade Commission to the Federal courts. Were it permitted to stand, the decision would wipe out a widely used trade practice under which a substantial proportion of the country's total retail business...
...judicial decision which states that sculpture as an art must depict "natural objects in their true proportion." Things were at an impasse since the avowed purpose of all abstract sculpture was to depict nothing at all but to stand on its own merits as pure design. President Conger Goodyear of the Modern Museum promptly protested...
...issue," said President Goodyear...