Word: prices
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Dates: during 1940-1949
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...Finland's leftist Premier Mauno Pekkala began packing for a trip to Moscow, others in Finland were also snapping their suitcase locks. Swarms of Baltic and Russian refugees swamped Helsinki's Swedish consulate seeking visas, and in their near-panic quest for hard currency the open market price of a dollar shot up from 700 Finn-marks to 1,000. Finland's Communist
General Electric's Charles E. Wilson sounded disillusioned. Two months ago he had slashed the prices of about half G.E.'s products (TIME, Jan 12), hoping to start a "chain reaction" of lower prices from industry and head off an inflationary third round of wage increases from labor. What he got, said he, was sneers and new wage demands from the CIO union at G.E. (which G.E. turned down this week), and price hikes by many another company. Said Wilson: "An expensive gesture...
Cash-Paying Dealers. The squeeze was also on in medium-and low-priced models. On Detroit's Livernois Avenue, used car center of the U.S., almost all makes of '47 cars were tagged at less than their original price.* In depressing contrast, Kaisers and Frazers (see below) were down $1,000 from list, Oldsmobiles were down $200 below list price, and even Fords, Pontiacs and Plymouths were selling slightly below list...
Bazelon got the FBI to investigate. Its agents marked outgoing rayon by a secret process, and traced it through the grey market. The FBI estimated that 10-15% of North American and Bemberg's output was being resold at prices up to $4 a pound, four times the factory price...
There was more trouble when Du Pont and other competitors raised their rayon prices in December. Bazelon vetoed any price hike for North American and American Bemberg. He ordered them to continue selling at 10% below the general market price. The irate directors resigned in a body...