Word: profits
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Dates: during 1950-1959
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These glowing words came not from U.S. travel bureaus but from top Russian newsmen back behind the Iron Curtain after a 33-day junket through the U.S. (TIME, Oct. 31). The seven junketeers managed to needle the U.S. in their reports. They noted and disapproved a "greed for profit." ("A unique means of making a profit is shown by Jack Graham, who blew up his mother and a plane for the insurance.") They rapped U.S. TV for showing too many commercials ("Only a stone sphinx could stick to one of these performances to the very end"). But they gave readers...
...leaders of the new mass selling system were the discount houses. They spread across the U.S., hawking everything from canoes to canape trays at 20% to 30% under list price. Their sales soared so high that, while profit margins were small, overall profits were...
...philosophy of mass selling brought greater sales than ever before to the U.S. auto industry. Dealers who once got markups of 25% now slashed profit margins as low as 3% per car. In the race for the No. 1 spot, Chevrolet turned out 1.8 million cars, edged out Ford by 65,000. But the comeback story of the year in the auto industry was Chrysler. After slumping to 12.9% of the market in 1954, President Lester Lum ("Tex") Colbert poured $250 million into racy new styling, fired up his dealers to get out and sell the mass market. Result: Chrysler...
...secret that the deals were uneconomic; the selling price was 39? and 40? a Ib., one-third less than the support price that the Canadian government pays to the farmers. What hurt the New Zealanders was that they had been selling butter to Czechoslovakia at 50?, and making a profit, until the cut-price Canadian butter greased the skids under their market...
...whatsoever of attempting to gain physical possession of those historical documents currently in the possession of such responsible institutions as the great university libraries and the widely respected historical associations." Yet Grover was in fact warning those collectors and dealers to whom federal documents are merely items for private profit. If the archives has its way, it will no longer permit such papers as those of Lewis and Clark to be parceled up and "dispersed as fragmentary items for commercial purposes...