Word: grundig
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...buying. "I have 5,000 marks (($3,000)) in my bank account, and I'm thinking about a stereo set," said Dirk Juttner, 21, an unmarried construction worker who stood outside the show window of a newly opened electronics store jammed with Sony TV sets, Toshiba CD players and Grundig stereos. "But I'll shop around for a good price...
Moreover, the general import figures disguise some troubles now developing. A growing number of companies-those producing such goods as chemicals, appliances and textiles, which are almost identical to those of their foreign competitors-are being hurt by the rising cost of their exports. Grundig AG, a consumer electronics maker already fighting cheap Japanese products, reports a drastic drop in sales to Britain and Italy. BASF, the giant chemicals producer, is paring prices and profit margins to hold its international markets...
Though French courts must finally decide the Consten-Grundig case, they are expected to go along with the EEC precedent, which may affect more than 30,000 exclusive-dealership arrangements...
...pursue their goal of free trade, businessmen of the six member nations have continued an older tradition: that of boundary-crossing deals through which manufacturers, in order to sandbag their competition, award exclusive sales rights to retail distributors. Now, in a long-awaited decision involving one such arrangement between Grundig, a West German electronics giant, and Consten, a French retail distributor, the Common Market has moved to topple the restraint-of-trade tradition...
Under a 1957 agreement, Grundig gave Consten exclusive rights to sell its TV sets, tape recorders and other products in France in return for Consten's promise not to handle competing brands. Grundig thus sewed up a $14 million share of the French consumer electronics market. Free from competition, Consten could sell Grundig products at markups as high as 50%-double what German retailers were getting. So sweet was the deal that in 1961, when another French firm started underselling Consten with Grundig wares bought from German wholesalers, outraged Consten officials charged it with unfair practices in a French...