Word: product
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Dates: during 1960-1969
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Javits foresees a barrier-free trading area stretching from the Rio Grande to Tierra del Fuego and embracing a population of 220 million, with an annual gross national product of $75 billion (v. the European Common Market's 180 million population and $250 billion G.N.P.). The area's sales potential would be so great that Latin Americans would be encouraged to manufacture their raw materials into finished goods themselves, thus not only creating new wealth and new jobs but also freeing the area from its forced dependence on exporting raw materials and importing finished goods. Javits envisions ultimate...
...Longer Hidebound. The hard drive to sell more shoes is a product of some major changes in the shoe industry. The industry has been for decades a casual and fragmented father-to-son business, with a relatively high rate of profit (up to 20% on invested capital) and little mechanization; even today 220 people work on the average pair of shoes. In the last few years, however, mergers and some failures have reduced the numbers of producers by 10%, and the few big manufacturers -International, Brown, Endicott Johnson, Genesco and U.S. Shoe-have expanded their share of the market...
...half of the candidates (who are required to speak two languages and read a third), the students work for one year on a September-June, 51-day-a-week schedule. Their curriculum is built, like that of Harvard Business, around hundreds of case studies: how to launch a new product in a foreign market, how to reorganize an international combine, how to raise capital most advantageously. INSEAD lifts its students out of long-fixed European business habits by stressing practical problems, discouraging narrow specialization and insisting that they take a global view of every business opportunity...
...self-made personality," she says. The product of a straight bourgeois background, she has propelled herself to the point where she is now the wife of a fashionable Roman architect and mother of a three-year-old boy ("An earthquake; he's so handsome"), can afford to collect shoes (70 pairs) and furs (14, including six mink), drive a Maserati and learn to fly. Best of all, having been discovered abroad, she finds herself big box office at home...
...Vienna, which has more high-priced jewelry stores and high-calorie pastry shops than any other continental city, is a compelling advertisement for capitalism to the thousands of Eastern Europeans who visit it every year. Last week the Austrian National Bank announced that the country's gross national product jumped 10% in 1964, to $8.8 billion, and the Austrians began negotiating in Brussels for some form of alliance with the Common Market...