Word: rental
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Dates: during 1960-1969
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...promising that some 3,000 companies have gone into the business. Some do nothing else, such as Baltimore's Peterson, Howell & Heather, Chicago's Wheels Inc., or New York's Lease Plan International. But the market also includes local auto dealers, finance companies, established auto rental firms (Hertz, Avis, Kinney, National)-and even Detroit Automakers Ford and Chrysler...
Also helping RCA's turnaround was its computer division. It was started in 1958 by Sarnoff and then RCA President John Burns. They had the right idea, but they overestimated their chances in a business where huge investments come back slowly as rental payments, and they underestimated the hard competition of IBM. Instead of specializing in one or two types of computers, RCA rushed out a broad range to do battle with IBM. Most were excellent...
...commercial model of the no computer, which was intended to run factories, and straightened out the bugs that had delayed for many months delivery of the high-speed 601 computer. The first 601 started whirring last month at New Jersey Bell Telephone, which is paying $375,000 a year rental for it; two more have been ordered by Reader's Digest and Newark's Public Service Electric & Gas Co. Between lower costs and bigger sales, RCA's computer losses were cut almost in half-from about $34 million in 1961 to an estimated $17 million...
Though his company is only six months old, Thrifty's President Wilbur Fisk Stemmons, 50, a onetime used-car salesman, already has a fleet of 140 new autos, and sales running at the rate of $500,000 a year. Many other cut-rate car rental companies are also springing up across the U.S. Though some quickly fold for lack of capital and know-how, many are doing remarkably well. Chicago's Budget Rent-A-Car, bossed by Jules W. Lederer, 45, husband of Lovelorn Columnist Ann Landers, has opened franchised branches in 50 cities, plans to open...
...that the discounters do not maintain the airport-terminal booths that cost the Big Three 10% to 12% of their gross in fees to local airport commissions. Few discounters permit customers to check out a car at one place and return it at another. But the cut-rate rental cars are generally as clean and well-serviced as the Big Three...