Word: marketing
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Dates: during 1950-1959
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Wages Up. In the boom's early years, profits went mainly into the pockets of owners and managers, or back into expansion. Labor docilely withheld wage demands while industry rebuilt, and heeded the argument that costs had to be kept low to compete in international markets. Now workers and salaried white collar people are sharing in the benefits of the economic "miracle." Since 1948, wages have more than doubled, but they still average only $27 per week. The traditional 48-hr, work week is gone: Germans work 45 hours, are heading toward 40. To supplement family incomes, wives often...
...Byrnes to cut a disk and set a comb manufacturer to turning out "Kookie Kombs" by the thousands. When a Los Angeles disk jockey casually asked his listeners "Should Kookie cut his hair?" he promptly got 5,000 replies (100-to-1 against cutting). Warners is now planning to market Kookie billfolds and perhaps belts, and Actor Byrnes is breathless with the wonder of it all. "My ambitions are so great that I can't discuss them," says he. "I just stand in awe of them...
...sick Government-bond market last week had its worst sinking spell. As prices of old issues hit new lows, their yields rose as high as 4.28%. exceeding the 4¼% ceiling on coupon rates the Government can set on new long-term bonds. Not since the hectic, tight-money days of early 1932 have yields risen so high. The sinking spell came at a particularly bad time for Treasury Secretary Robert B. Anderson; he needed $5.3 billion to carry the Government through June...
Disappearing Buyers. Just when Anderson's need for financing is ballooning, the market for Government bonds is shrinking. For years, while income of Social Security, unemployment compensation and other Government investment accounts was greater than outgo, the Government could count on selling an average of more than $2 billion a year to the funds. In 1958. with outgo greater than income, the funds had to sell $800 million worth of bonds...
Furthermore., the state-and local-government market for Government bonds is drying up. Once, most states specified that a large portion of their pension funds had to be invested in federal bonds. Today many permit them to be invested in higher-yielding corporate bonds. An even bigger Government market used to be insurance companies, mutual-savings banks, savings-and-loan associations and corporate pension funds. From 1952 through 1958, these institutions trimmed their federal-bond holdings from $23.9 billion to $20.6 billion, bypassed the Treasury entirely in putting more than $90 billion in non-Government investments...