Word: markdown
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Dates: during 1940-1949
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...with company-wide wage reductions of 2? an hour under its escalator "cost-of-living" contract. (Wage rates are adjusted up or down quarterly, 1? for every 1.14 point change in the Bureau of Labor Statistics cost-of-living index.) Said G.M.'s President Charles E. Wilson: the markdown was intended to "pass along to consumers the savings resulting from both the downward adjustment of wage and salary payments and the lowered cost of certain material items...
...read treatises on precious stones, used jewelers' tools to break up or remake stolen jewelry. To avoid the underworld markdown on hot goods, he printed up cards which bore his name and the legend "Felix P. Jacobson Co., 5 South Wabash, Chicago, Ill."-an active firm whose name he had simply appropriated. He posed as a legitimate salesman and always demanded list prices for stones...
...lately spineless Star told less than the whole truth. It had just been swallowed-but did not say so-by the affluent and conservative Seattle Times, which would now have the afternoon field all to itself. For the Times (circ. 176,000), the deal was a bargain: at the markdown price of $360,000 it got the Star's precious newsprint contract. It also nipped young David T. Stern's threat to buy the paper and restore the lusty liberal voice that its late founder, E. W. ("Lusty") Scripps, gave...