Word: middleman
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Certainly it has revolutionized the way Americans conduct business. Once upon a time, direct mail evoked only two names: Montgomery Ward and Richard Sears. Ward, a Midwest traveling salesman, had a simple idea: "Sell directly to the consumer and save them the profit of the middleman." In 1872 he published a one-page listing of 163 items, from red flannel cloth to oilcloth table covers, and mail order as we know it today was born. Fourteen years later, Sears, a Minnesota railroad-station agent, decided to mail a few $12 watches to his peers for $14 apiece. When the ploy...
...place at medical school is valuable because of a variety of social and governmental policies that reduce opportunities to deliver health care and increase the incomes of doctors. Restrictive licensing laws forbid nurses and paramedics to perform simple tasks (or, in reality, allow doctors to collect a middleman's fee). Medical-school places are limited. Medicare and Medicaid expand the market for doctors' services, while doing little to promote competition on price...
Just how much is a child worth? To a father in northern Thailand, 10-year- old Poo was worth $400 when he sold her to a middleman to work in Madame Suzy's Bangkok brothel. To Madame Suzy, Poo is worth $40 a night while she's still young and fresh. But her price will soon come down...
...blending its conservative corporate culture with MCA's Hollywood approach. The clash was less pronounced for Sony, which is considered more worldly and innovative. As did Sony, Matsushita is paying for the services of a Hollywood matchmaker, superagent Michael Ovitz of Creative Artists Agency, who is acting as middleman...
...there is no federal role and there is no federal oversight, I don't know if that's best for the children," the official said. Another criticism levelled at the "eliminate-the-middleman" proposals such as Rappaport's is that the middleman is simply overrated. "When you get to the Education Department, there isn't a lot of bureaucracy," said Merkowitz...