Word: marketing
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Dates: during 1950-1959
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...success attracted thousands of fly-by-nighters who tricked out rabbit, skunk and black Manchurian dog under such misleading names as Arctic seal, Alaska sable and Belgium lynx. As burned buyers learned to fear the fur, the trend to suburban living-with its more casual dress-trimmed the market more. Women also became choosier. Many passed up muskrat, squirrel, and other less expensive furs for good cloth coats-or waited until they could afford mink. By 1953 fur sales were scraping bottom at $250 million...
Good Year Ahead. Last week, vacationing at his small, four-room, co-op apartment at Delray Beach, Fla., Smith said he will now relinquish most of his everyday managing duties, concentrate more on long-range planning and policymaking. Cheered by the stock market's quick snapback and high volume of trading last week (see State of Business), the top man in Wall Street's top brokerage house saw a good year ahead for M.L.P.F. & S. Said he: "Company after company is going to need more money to expand, and they will have to come to Wall Street...
...pension plans should be left alone. The American Bankers Association feels that federal regulation of all pension plans is unnecessary interference with the bankers who have run them for years with few complaints. The U.S. Chamber of Commerce argues that full disclosure of pension investments could unbalance the stock market, that prices would gyrate as the public followed the big funds' buying and selling...
...Administration, along with many fund experts, disagrees. Many experts feel that the field is far too big to leave uncontrolled (only six states have amended their insurance laws to cover the funds), and that worries about the disclosure of fund investments on the stock market have little foundation. Mutual funds, with some $10.5 billion in stocks and bonds, are required to publish their investments at least twice a year, and there has been no visible damage to the market. So far, the Administration has potent support from A.F.L.-C.I.O. President George Meany, who is in favor of full disclosure...
Last week furriers were in the midst of their January sale season and feeling decidedly hopeful. From $290 million in 1956, retail sales climbed back to $315 million in 1957, and many furriers think the market will keep improving. One big reason for the comeback is that women are not so suspicious as they were, thanks in large part to a 1952 federal law requiring truthful labeling. Said Harvey Hannah, chief of the wool and fur division of the Federal Trade Commission: "The act has done a lot to instill consumer confidence. There was a time when...