Word: priced
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Dates: during 1960-1969
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Your article covering the demonstration at the Freund Hearing ignored the most interesting exchanges between Dean Price and demonstrators...
...among defense suppliers. That-and the current controversy -stems from a buying system, introduced when Robert McNamara was Defense Secretary, called "total package procurement." Under "TPP," contractors must estimate total costs of a complex project years in advance, and they are supposed to keep quite close to that fixed-price target. TPP was designed to end the egregious overruns that had been fairly common under the older system of contracting for each step as it came along. This had encouraged contractors to make unrealistically low bids in the research phase; once entrenched in a project, they could discover "unforeseen" expenses...
Shopper's Paradise. Shannon, where the idea of duty-free shops originated in 1952, is close to Schiphol in range and price. It opened in the era of prop planes, when a refueling stop was a must on a transatlantic flight. The jet age brought a temporary drop in Shannon's business, but last year 714,000 passengers passed through, nearly double the number in the peak pre-jet years. The thought of picking up an authentic Aran Islands sweater for $19.50, a genuine Irish tweed sports jacket for $32, or a hand-crocheted christening shawl...
Surprisingly, local products are often the least attractive buys of all because of local taxes-or because shrewd sellers reckon that in-transit passengers will think that a local product is obviously a bargain at any price. A quart of V.S.O.P. cognac, $5 at Ireland's Shannon airport, costs $6.30 at Paris' Orly. In Belgrade, a bottle of "Manastrika" slivovitz is $2.50 at the airport and $1.50 in town. Thousands of passengers eagerly buy watches at Swiss airports, where they are not duty-free and cost about 10% more than at downtown watchmakers. German-made cameras, tape recorders...
Willing to Refund. Amsterdam's Schiphol offers the biggest variety and best prices. It leads all other airport shops in sales, which were $10 million last year. Schiphol also has the world's first duty-free self-service liquor and tobacco store, where passengers can pick and choose just as they do in a neighborhood supermarket. Another innovation is a tax-free automobile showroom with a choice of 21 models, including a British Ford Cortina for $1,500, about 23% less than the London price tag. Within half an hour of arrival, a traveler can drive away...