Word: middlemen
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COFFEE PRICES, rising since last August, are jumping up again. With price boosts by middlemen, General Foods Corp. (Maxwell House, Sanka), Standard Brands (Chase & Sanborn) and other big roasters are hiking prices between 2? and 4? per Ib. wholesale. Total price increase since August...
...important new factor today is the speculator willing to take a flyer on the works of a young unknown. Tempted by such examples as Bernard Buffet (TIME, Feb. 27), whose canvases in eight years have jumped in average price from $50 to more than $1,000, dealers, brokers and middlemen are buying paintings, hoping for a "beau coup" (lucky strike). Occasionally art dealers buy up an artist's whole studio full of works, salt them away until the artist's work brings a premium...
...Agriculture Commission would have to investigate the fundamental insecurity of the farmer and his lack of bargaining power against industry and the consumer, overproduction and uneconomic use of marginal lands, the problem of too many farmers, and the inefficient system of distribution that allows middlemen to capture most of the food dollar...
Benson believes that the widening spread between farm and retail prices is due not only to increased handling costs but to a bigger cut to the middlemen. From the first quarter of 1955 to the end of the year, the average price paid to farmers for choice beef cattle dropped $4.15 per 100 Ibs. But only $1.57 of this saving was passed on to consumers in the form of price cuts. The rest of the difference was soaked up by an increase in the shares of the middlemen; packers and wholesalers increased their take per pound by $1.08, while retailers...
...Collects? Are middlemen increasing their profits at the expense of the farmers? They deny it, argue that increased costs for wages (up 16% in the packing industry from 1954 to 1955), trucking, etc. helped keep the price of beef up. Furthermore, the great increase in processing, e.g., for frozen and readycut meats, builds in costs that make retail prices react slower to wholesale price drops...