Word: marketeers
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Dates: during 1930-1939
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Although only Packard had announced its prices at last week's end, price cuts below 1938's levels were likely to be made in other lines. Last spring, when the steel industry was bogged down in a soggy market (TIME, May 8), it pulled its production rate out of the bog by making concessions to hard-boiled motormakers' buyers: an average of about $6 a ton below published price lists. The steel industry, more worried about production than prices at the time, also guaranteed its concessions to the end of this year. By piling...
...yearly interest bill from almost $6,000,000 to well under $2,000,000. Last May he got three insurance companies who own its debt to accept an interest cut from 4¼% to 3⅝% just as though he were hiring the money at the market...
...years President Litchfield has personally done Goodyear's rubber shopping, still gives it 20 minutes to an hour a day. He carries the industry's biggest market basket, for Goodyear buys about 14 2/7% (the United States from 30% to 50%) of the world's crude rubber. With only about 10% of Goodyear's requirements produced by Goodyear's own plantations, he must gamble more heavily than his competitors on war or peace as well as recovery or depression when he goes to market. In the spring of 1937, when commodity prices threatened...
Goodrich, when the rubber market collapsed in 1937, took a $5,653,000 inventory write-down which put it $878,580 in the red (even after a $593,249 profit on foreign exchange). But last week, Goodrich's President Samuel Brown Robertson reported sales up 27.4%, a $3,122,728 profit, instead of last year's $209,551 loss...
...crop island, St. Croix was hard hit when the bottom fell out of the raw sugar market and Crucians could no longer buy corn meal and salt fish to keep their fungee pots going. But relief cards, at first ignored as a white man's joke, soon brought an unprecedented prosperity. The Negroes, given canned goods, traded them for rations they liked better, for bright flimsy dresses, dime-store jewelry, tobacco...