Word: retail
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Dates: during 1980-1989
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There's the heart of the problem. The Coop has wandered from it original mission, proclaimed by its motto "Serving the Academic Community Since 1882," and has tried to sell in the high-profit, highly competitive Boston retail market, for which the Coop is ill-suited. The Coop caters mainly to student needs and should not try to outdo department stores that serve a broader community. Students and faculty have funded the Coop's expensive ventures in the form of lower rebates...
NOBODY KNOWS THE TROUBLE THEY'VE SEEN. Retail stock brokerages are suffering because small investors, a primary source of commissions, are staying out of the market. Nearly 16,000 securities-industry workers have lost their jobs, while profits have plunged at such firms as Merrill Lynch and Paine Webber. The largest investment houses have survived the down cycle, with one exception: E.F. Hutton, already suffering from a check-kiting scandal before the crash, nearly collapsed afterward and was absorbed last December by Shearson Lehman...
China's leaders reacted to the buying frenzy by ordering a classic economic dampdown. Beijing temporarily closed some banks to halt withdrawals, limited the size of some retail purchases and raised interest rates to soak up some of the money that the country has been printing at a record rate. Moreover, the Politburo, headed by party General Secretary Zhao Ziyang, Deng's handpicked heir apparent and a firm advocate of reforms, decided to abandon further price decontrols this year. Even Deng appeared chastened by the eruption. Said he: "We have been bold enough...
Peggy Forrester, the one with the Ford Tempo, is the middle child -- 30 years old, well dressed, articulate, with a high school diploma and an assortment of credits from a local junior college. She has worked her way up to become a manager of a retail clothing store. Her salary of $25,000 a year sounds quite respectable. Nevertheless, she had to live at home until last year. "I couldn't afford to move out," she says. She makes about $300 a week after taxes. (The withholding includes $32 a week in Social Security tax that will help...
Tooling around Washington in his black stretch limousine and sporting a snow- white pompadour, Herbert Haft, 68, may look more like a Hollywood agent than a predator who strikes terror in the hearts of corporate executives. But the roster of giant retailers -- including the May department stores, Dayton Hudson and Safeway -- shaken up by his Dart Group (1987 revenues: $406 million), based in Landover, Md., has earned Haft and his eldest son Robert, 35, Dart's president, a reputation as two of the most feared raiders on the roiling retail scene. Just ask the 2,257-store Kroger grocery chain...