Word: markup
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Dates: during 1950-1959
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...begun last spring, both associations have now promised to give up their restrictive, price-boosting practices. Because they signed a consent decree, the details of how much they had hiked the costs of medical care and surgery were not disclosed. But it was known that on some items the markup between manufacturer and buyer (doctor or hospital) had been as high as 600%. In the end, of course, the patient paid...
...stripling from Galveston, Texas, got a job in Chicago's Lord & Thomas agency in 1898, advertising was in its horse & buggy stage. Ad agencies were little more than space brokers. They bought space in newspapers and magazines at cut-rate, and resold it to advertisers at whatever markup they could get. They prepared little copy or art work. Lasker, who displayed a hypnotic, golden-tongued salesmanship from the start, soon changed all that. He laid out ad campaigns with newsy headlines and drawings, insisted on a 15% commission on the price of the ads. Thus he helped establish...
...million gals. of whisky, 80% more than ten years ago. Reason: many customers are buying less, or shifting to lighter drinks, because of stiff federal taxes on spirits, boosted last year from $9 a gal. to $10.50. At retail the price is still higher because venders add their normal markup (average 22%) to the tax itself* While the Big Four distillers (Schenley, National, Seagram's and Hiram Walker) insist that they will maintain prices, smaller distillers have already begun to cut prices of straight whiskies. Sample: United Distillers has slashed its J. W. Dant bottled-in-bond sour-mash...
Some record sellers predicted that the price cutting will wash the small retailer down the drain, since he is unable to get the volume to compete with Goody's phenomenally low (8%) markup. The manufacturers themselves, drawing lessons from Goody's demonstration of what big volume and low markups can do, may trim their own prices...
...blame their country's inflation on profiteering dealers (who have a noteworthy, but not a primary, role in forcing prices up). To prove that it is resolutely battling inflation, the government periodically announces dire anti-profiteering measures. In December, it said that people's courts, where high-markup shopkeepers could be tried by juries of irate housewives, would be set up; the courts have yet to start operation. Last week, after price riots in Belo Horizonte (TIME, Feb. 18), Price Boss Benjamin Scares Cabello announced the newest plan: a chain of 24 government-run stores in all state...