Word: markup
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...weeks ago, 250 members of the association met in the auditorium of Denver's Conoco (Continental Oil) Building, decided that 9% was too low. On a show of hands, only a few grocers confessed to operating costs of less than 14%, none to less than 12%. The minimum markup under the Unfair Practices Law was upped promptly to 12%, plus 2% for grocers with their own wholesale warehouses...
...with the percentage jumped T. W. Henritze, divisional manager for potent Safeway Stores, Inc., second largest U. S. chain. Reading from a bristling statement he had prepared for just such a situation, Henritze gave his fellow members something to think about: "Safeway is emphatically against any increase in this markup. A higher markup goes beyond the sound purposes of the law and represents an attempt to use the law as an instrument to fix prices. . . . The Department of Justice already has issued warnings against combinations under any guise whatever taking advantage of the war crisis to raise prices to consumers...
...publicity stunt, Safeway's refusal to go along on the increased markup was in line with a basic policy laid down by its industrious. 130-lb. president, Lingan Alan Warren. "When you get wide spreads you are vulnerable," Warren once said. "That is why Safeway does not believe in making too much profit on any one thing." It was also, as events turned out, insurance that Safeway need feel no qualms when Thurman Arnold's men get to Colorado...
...members are 80% of the city's stores, half all those in the State. Already semi-monopolies because of State licensing laws, councilmen saw a chance to make real money when the Feld-Crawford Act was passed. Negotiating with the distillers, they obtained a uniform 40% retail markup, a 4 to 20% discount for large purchases besides. Under this scheme Council members could buy $1 liquor from the distiller for as little as 80?, resell it for $1.40, while their operating costs averaged less than 20? a bottle. When the distillers suggested a smaller margin, the Council said...
...Gangbuster Tom Dewey. He began looking for an angle. On May 23 he found it, rocked the Council on its heels by charging restraint of trade. "By threatening to boycott distillers' brands," said he, "[the Council has] compelled and coerced distillers and distributors to adopt this agreed-upon markup of 40%." This was "horizontal" price-fixing, "in direct violation of Feld-Crawford Law. The public, of course, is the victim...