Word: retailing
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Dates: during 1950-1959
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...Habit Is Everything. As general manager of the RCA Victor Record Division of the Radio Corporation of America, George Marek, 57, ranks as the world's biggest musical merchandiser. In the fiercely competitive, $400 million (retail) record market, Victor claims 25% of total sales. On the Christmas-trade counters last week Victor was pushing both a new Beecham version of Handel's Messiah and the Ames Brothers, a recording of Archibald MacLeish's J.B. and Elvis Presley's newest but possibly fading wails (see SHOW BUSINESS). Marek himself is a dedicated opera lover (among his books...
Food is the biggest industry in the U.S., but with all the $80 billion in sales it generates, the more than 1,000,000 it employs and the 373,000 retail stores it serves, the industry has changed itself completely to lead, cheer and consolidate the revolution. Canned goods are still the old and tested convenience foods, but such startling gains have been made by mixes, frozen food and instant drinks that one in every three of the time-and labor-saving products was unheard of only ten years...
Give & Take. Union President Lapidus copped a guilty plea on charges of extortion. Boss Loughran (who ironically had won a reputation for his exposes of rackets in retail businesses) was haled before a county grand jury, fired from his $8,250-a-year job and arrested on charges of extortion. Investigator Kaplan promised that the butcher expose was only beginning. "The protection club was all over New York," said he. "There are 5,326 butchers in the city. You will have to guess at how many were involved, especially in depressed areas, where it hurts the little housewives the most...
Detroit had expected it for months; last week Ford Motor Co. finally had to make it official. The company dropped its medium-priced Edsel, introduced only two years ago. Said Ford, in a pained announcement: "Retail sales have been particularly disappointing, and continued production of the Edsel is not justified, especially in view of the shortage of steel...
...force that gives the U.S. economy its pep is being generated more and more in the teeming aisles of the nation's stores. From the Commerce Department last week came an estimate that retail sales in October reached $18.3 billion on a seasonally adjusted basis, a 7.8% gain over last year's level and the first time October sales have burst through the $18 billion mark. In November's first week, sales in U.S. department stores were running 5% ahead of last year. Retail sales for the first ten months of 1959 total $179.9 billion, 9% above...