Word: retailers
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Dates: during 1970-1979
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Last week Genesco Chairman John Hanigan, 67, announced the sale of Bonwit's twelve-story Manhattan building and real estate leases to Developer Donald Trump for $10 million. Allied Stores, a large retail chain, is negotiating to buy Bonwit's twelve branches across the country, which it would operate under the Bonwit Teller name. But at Fifth Avenue and 57th Street, where Bonwit's was rouged cheek by powdered jowl with Tiffany and Bergdorf Goodman, there will probably be some sort of highrise...
...that the productivity slowdown has not been uniformly severe throughout the economy but at its worst in a few industries: mining and utilities, which have been most deeply affected by new antipollution and safety rules; construction, where outmoded building codes have held back the use of new technology; and retail sales. Stores have been staying open nights and Sundays to satisfy shoppers' demands for more convenience; the longer hours force them to hire more workers but do not add proportionately to weekly sales. Other areas of the economy have had difficulty too, but manufacturing in general had a good productivity...
...sweeping class action filed in the Washington, B.C., Federal District Court, Sears blamed the Government for whatever employment unbalances exist in the retail industry. The suit, prepared by veteran Civil Rights Attorney Charles Morgan Jr., charges that the Justice Department, the Labor Department, the Equal Employment Opportunity Commission and seven agencies have built up an absurd number of conflicting goals for different minorities. Sears maintains that it is not company employment practices that have held back integration but the Government's failure to press vigorously for equality in housing, education and craft training...
...stream of gold, the connection is still operated mainly by Colombians (some 70,000 families are believed to be involved), most of them novices or small-time entrepreneurs. It is by far the largest business in Colombia, providing more revenue than coffee; it is also, astonishingly enough, the largest retail business in Florida. Those who enjoy smoking the weed may regard the traffic as essentially harmless, but wherever the Colombian Connection extends, it spreads violence and corruption...
...traffic, which violates Mexican but not U.S. law, benefits stores in other Texas cities too. Mexicans account for an estimated 20% of all retail sales in San Antonio. In Houston, the Sakowitz department store does 10% of its business with Mexicans. Says Maurice Aresty, executive vice president of Houston's Retail Merchants Association: "They buy shoes, furs and all the jewelry they can carry back...