Word: refundability
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Grayson plans to compel big-product firms-manufacturers of automobiles or steel, for example-literally to refund any overcharges discovered in their records by paying back individual customers. Only one company so far has been dealt that fate on the basis of its profit margin: Houston's Browning Ferris Industries was ordered to pay back $40,000 to its customers within 90 days, as well as to reduce future prices by a total of $120,000. But Ford's decision to lower prices on its high-volume models, including its LTD, Maverick and Mustang, may well have been...
...Francisco Mayor Joseph Alioto owe the state of Washington and various local authorities a refund of $2.3 million? In court for 95 days since last October, lawyers and witnesses in Vancouver, Wash., produced a total of 9,675 exhibits and an estimated 3,500,000 words of testimony and arguments on that question. Last week the jury somehow came to a decision after only 10½ hours of deliberation. Their verdict: Alioto could keep the money...
...sources of the $1,236,420.72 he has collected thus far. Clearly the little people have been at the heart of his campaign; the average direct-mail gift was $18.58, and the average gift overall was $29.36. Some of the money came in the form of Medicaid refund checks, and at least one contribution was the one month's hostile-fire pay ($65) of a G.I. in Viet...
...original $650,000 was down to $450,000, which had been given to a second Zurich bank to invest in stocks. It is said that Irving is now frantically trying to raise $200,000 in order to replace the money that has been spent, should he be required to refund it to McGraw-Hill. The fact that the money remains in the Irvings' accounts is one of the best arguments against the theory that an impostor posing as Hughes duped Irving; presumably such an impostor would long since have absconded with the money...
...started out with little new except strengthened bumpers. What brought most of the spurt was the freeze-produced sales of 1972-model cars at early-1971 prices, as well as the $200 excise tax cut that President Nixon has proposed. If, as expected, Congress approves the cut, dealers will refund the tax to customers. American Motors has in fact been making excise-tax refunds even before Congress acts; the company's sales jumped 50% in September, compared with the same month in 1970. Whether or not the sales surge will continue into 1972 will depend on what happens...