Word: overhead
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Dates: during 1950-1959
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...arsenal. A 60-man troop of maritime police and some 200 pro-Castro civilians were waiting to join them. The rebels swept into Marti Park in the center of town, surrounded the pro-Batista national police headquarters and demanded surrender. The police refused. While two rebel navy planes circled overhead, the rebels charged, and after a vicious fight that littered the street with dead, the building fell. By noon rebels controlled the city-the first such feat they have been able to pull off since last November, when they held the eastern city of Santiago de Cuba...
...threatened to knock old-line retailers out of many a choice market. Since the war, the discounters have built a $5 billion business selling appliances and other hard goods 20% to 40% below list price. Now that the first bloom is over, theirs is no longer the no-overhead, no-service happy hunting ground that it used to be. Discounting is a rugged business, growing tougher each month...
...when it offered to equal any price reported by a customer, and has the capital to buy carloads of appliances at lower prices than most small discounters can command. Many other big stores from coast to coast hold "warehouse sales" to take advantage of the discounters' low-overhead, high-volume merchandising idea...
...trouble is that such expansion costs more than most discounters can afford. Even with more and more self-service, Korvette's overhead has risen from 7% of sales in 1951 to around 14% (v. an average 33% for department stores). Korvette and other big discounters have the cash reserves they need to grow, but their smaller brothers do not. Traditionally, the discounters' main credit source has been manufacturers' wholesale distributors, who "carried" discounters through periodic slow periods. Even if the discounter failed, the distributor could rationalize his own loss as advertising for the products. The sagging appliance...
...Gliders. What put Icelandic across is its happy niche as a freewheeling outsider in the carefully regulated air transport business. Every other scheduled transatlantic line belongs to the International Air Transport Association, which sets industry-wide fares for one and all. Icelandic is outside I.A.T.A. With its lumbering, low-overhead DC-45, it flies round trip from New York to London for $469.20 (v. $522 for bigger lines), New York to Oslo for $472.20 (v. $590.60). Says Nicholas Craig, president of the line's U.S. subsidiary, which operates the transatlantic business: "For years the airlines have talked about bringing...