Word: retailing
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Dates: during 1950-1959
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...week, while Bonn sweltered under heat so intense that firemen were obliged to water the Bundestag roof to prevent it from dripping tar, the 60-year-old Economics Minister finally won the day. The law he got-which provided for a number of permissible cartels including "crisis" cartels and retail-price-fixing rings-was less than he had hoped for. Nonetheless, said Erhard, "with all its deficiencies, this is still the most modern cartel bill in the world." If Erhard was guilty of hopeful exaggeration, the fact remains that West Germany alone among European nations had legally accepted the principle...
...fast-growing National Citizens' Committee to Curb Inflation, born in Mexico, Mo. (pop. 13,500) three months ago, marched into Washington for a rally last week, and it could hardly have picked a fitter time. Reason: last week the Bureau of Labor Statistics announced that its retail price index had crept upward for the ninth month in a row, hitting a record peak of 119.6 (the 1947-49 average = 100) as compared with 115.4 a Year...
Rolling along in his high-gear expansion drive, Montgomery Ward's aggressive Chairman John A. Barr last week dipped farther into the $198 million capital reserve long hoarded by penny-pinching former Chairman Sewell Avery. To put Ward on Chicago's State Street, the city's retail center, Barr announced purchase of the Fair, an 82-year-old department store with three thriving suburban branches, controlled by Five & Ten Mogul Sebastian S. Kresge's charitable Kresge Foundation. For $7,532,500, Ward bought 301,300 shares of the Fair stock from the foundation...
...produced by a new, cost-cutting automated process were put on national sale by Walco Products, Inc. Walco will treble output to 3,000,000 needles a year, price them so low that makers of medium-priced hi-fi sets can afford to supply diamond needles as standard equipment. Retail price...
...ignored both statistics and statements. If business were slipping, money should be easing; yet last week money was tighter than ever, reflecting a demand for funds to finance expansion. The Federal Reserve Board announced that record levels during May were maintained in construction activity, nonfarm employment, personal income and retail sales. Mortgage applications jumped to their highest level in several months, leading builders to hope for a summer upturn in lagging home building...