Word: localize
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Dates: during 1950-1959
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Meanwhile, Francis A. Harding '53, vice-president of the Eisenhower for President Club, announced that it now has 550 registered members, making it the largest of any of the president clubs in the University. John Easton 3L, has resigned as president of the local organization to become the Massachusetts College Director of the Eisenhower for President clubs...
...Local boosters and realty boards were not anxious to shout about this creeping threat to their real-estate values, but Water Engineer Oswald A. Gierlich of Manhattan Beach refused to keep mum. He knew that the west basin's gravel recharges very slowly, that fresh water comes a long distance from inland mountains and filters through gaps in an impermeable barrier called the Inglewood-Newport Fault (see diagram). The invading sea water moves much faster. Gierlich figured that, if nothing were done, sea water would fill the whole basin in about ten years and permanently spoil the vital wells...
...shady manufacturers unloaded their stocks by shipping them C.O.D. to unsuspecting small-town merchants, then offered them cut-rate prices "to avoid return shipping costs." When a shipment of men's "yellow watches," hunting-case type, and gold-filled (value of the gold: 27?) was refused by a local merchant, Sears got them for $12 apiece and sold them for $14. In six months Sears, then 22, cleared $5,000, moved to Minneapolis and then on to the rail center.of Chicago, and started a mail-order business...
Sears' rapid rise brought down the wrath of local merchants. They offered prizes to those who collected the most Sears catalogues, and then made public bonfires of them in village squares. They spread rumors that Sears' watches were not only half price, but would also run twice as fast as a good watch...
Throughout Latin America, Sears' policy is to hire and train local workers; in Mexico only 14 of its 2,000 employees are North Americans. "All we want is loyalty, honesty and hard work," says Sears' Venezuelan boss. "We'll teach them the rest." One thing that Sears has already taught its competitors in Latin America is the basic tenet of all U.S. retailers-big volume, not high markups, is the key to profits. And Sears stores have already caused general price reductions in their localities...