Word: retailing
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Dates: during 1950-1959
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...interpretations of the law be left to the courts. Snapped Erhard: "Courts are not fitted to judge whether a cartel is harmful to the economy or not. That is my job." Only Adenauer's intercession forced Erhard to accept a compromise bill permitting exceptions for "crisis" cartels and retail-price-fixing rings. "Damned little butter for such a big slice of dry bread," snorted Erhard as the Bundestag passed the bill. Yet even this watered-down law makes Germany the first European country to take a stand in principle against "associations in restraint of competition...
Consumers & Profits. Yet the market slump did not seem to bear much relationship to the economy as a whole. Despite Wall Street's bearishness. the U.S. consumer is buying more than ever. Estimates of 1957 retail business as a whole put the totals at a record $200 billion, up $8.5 billion from 1956'$ peak. Construction volume in September rose to $4.6 billion, up 4% over a year earlier. And the first earnings reports for 1957's third quarter showed that companies were still making record profits. American Telephone & Telegraph and International Business Machines both posted new highs...
FAIR TRADE is out in New Mexico, 13th state to rule that manufacturer cannot dictate minimum retail prices. State Supreme Court threw out clause that says if one store signs a fixed-price pact all stores must uphold it. Exempted: fair-traded tobacco products and liquor...
...Priorities. San Francisco's pro Forty-Niners and the Stanford and University of California football squads got their shots; so did clerks in the local Dun & Bradstreet office and stenographers of the Retail Credit Co. City employees in the police, fire, water, and transportation departments got none. Almost identical reports came from a dozen other cities, including Washington. The District of Columbia had received only 3,000 shots for workers in the capital's essential services; some Federal Government workers were vaccinated without regard to essential status...
...CONSUMERS are unpeeling their bankrolls at record rates. Commerce Department says Americans are spending 68% of their disposable income in retail stores, v. 66% a year ago. With personal income up 6% over last year (2% more in actual purchasing power), last month's retail sales jumped 9% over August...