Word: markup
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Dates: during 1960-1969
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...Chicago, a homeowner may pay the main contractor on a remodeling job $15 an hour for a carpenter whose wages are $6 05 an hour. The difference is made up by fringe benefits, payments to subcontractors-and a 50% to 60% markup that covers the contractor's overhead and profits. In addition, contractors usually buy pipe, lumber and other materials at discounts, but charge the homeowner the standard price plus "delivery costs." The markup over the contractor's price ranges from at least 10% in Chicago to 30% in Miami...
...Corp. Motivated by pride and profit, the three banks formed a syndicate a year ago and began to buy newly mined South African gold. They wanted Zurich to challenge London's position as the leading gold market, and they also figured to sell the gold at a lucrative markup. By carefully controlling their marketing practices, they could keep the free-market price from becoming depressed. They sold the gold to industrial users, private hoarders and speculators-but only when demand was strong enough to make the deal pay off. Indeed, when the free-market price weakened slightly last month...
...Eclectic Car. In all the planning, the primary goal was to build a car that would list for less than $2,000. To do that-and still allow dealers a reasonable 17% profit (v. the usual 21% to 25% markup)-Ford had to pare the tooling costs. So it built an eclectic car. Maverick owes its front suspension to the Mustang; the steering gear comes straight from the Fairlane; the standard 105-h.p. six-cylinder engine and the rear axle were borrowed from the Falcon. Even so, Maverick's development costs added up to a hefty $71 million...
Ford offers a variety of options-including a 120-h.p. engine, automatic shift and air conditioning-that can jack up the price as high as $2,700. But the company has urged dealers to discourage sales of the high-markup options so as not to price the car out of its market. How does the car handle...
...hearing, the Senators were particularly disturbed by the discrepancy between prices for work covered by auto manufacturers' warranties and prices on nonwarranty jobs. The automakers pay for the warranty work and they allow the repairman only a 25% profit margin. But on other repair jobs, the markup runs 40% and more. Garages also tend to offer discounts to such big customers as insurance companies and auto-fleet owners. Volume discounts, of course, are common in all U.S. businesses, but Michigan Senator Philip Hart, the subcommittee chairman, wondered "whether the cash customer is subsidizing the privileged customer...