Word: retailing
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Dates: during 1950-1959
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...tyranny, his is the quickest and sharpest intelligence, and he is the slickest and shrewdest operator. He is the supreme Soviet trader, the one big Bolshevik to show both the talent and the will for business enterprise. As such, he not only organized a $120 billion-a-year retail trade (200 million customers) and a $6.2 billion-a-year overseas business, but in the process achieved an understanding of the wider world of trade and global politics that is unmatched among Politburocrats. To two generations of Western diplomats and trade negotiators, this brisk and comprehending commissar has seemed "the best...
...Downs. Canada's business and industry made a spotty picture. The big western oil industry throve; deliveries in June stood 13% above the 1956 rate. Capital investment this year should top 1956's record $7.9 billion by some 10%, and brisk retail sales proved that consumers still had money and were willing to spend it. But automobile production was down slightly for the year, and Chrysler of Canada announced that it would operate only one shift a day during the 1958 model year rather than two. Steel production was a little below last year's rate...
Died. Lincoln Filene, 92, dean of American retail merchants, chairman of William Filene's Sons Co. in Boston; in Marstons Mills, Mass, (see BUSINESS...
...healthy thing for the U.S. economy. As the economy grows bigger, only the foolish believe that it can keep piling a 10% gain on 10% gain every year. But even if business activity continues to taper off during the remainder of 1957-and most areas of the economy, e.g., retail sales, new construction, are still booming-it could quickly start upward again. A Government tax cut. predicted for next year, would encourage business investment. And any loosening of the money market could stimulate more home construction, trigger postponed borrowing by business and state and local governments...
...concerned, said Blough, the increase represented only a 4% rise in selling prices, and was not enough to offset wage and other cost increases amounting to about 6½%. For a family spending $5,000 a year, he said, the rise will bring an increase in the cost of retail products that they buy of "considerably less than 1? a day-or not even enough to buy one cigarette...