Word: retailing
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Dates: during 1950-1959
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Trade by trade, industry by industry, the Communists have worked over China's extensive and once thriving commercial life. By 1952, 58% of the economy was under government control. Because the Communists control raw materials, retail prices, staff hirings and firings, and can demand exorbitant taxes at will, private businessmen have no alternative but to give up. By last November, 70% of all Shanghai firms had been handed over. Since then socialization of business has been speeded up, and complete transformation, already achieved in many smaller cities, is soon expected...
Brother Matthew, Brother Bartholomew and Brother Stanislaus take their vows this week at the Servite Monastery on Van Buren Street in Chicago. Brother Stanislaus came from the Polish army and five years in a German prison camp. Brother Bartholomew came from the retail clothing trade in Chicago, where he was known to fellow salesmen as "Two-Pants Murphy." And Brother Matthew came from the honky-tonk world of red-hot, blue-air, 4-in-the-morning jazz; his name was Boyce Brown...
Benson believes that the widening spread between farm and retail prices is due not only to increased handling costs but to a bigger cut to the middlemen. From the first quarter of 1955 to the end of the year, the average price paid to farmers for choice beef cattle dropped $4.15 per 100 Ibs. But only $1.57 of this saving was passed on to consumers in the form of price cuts. The rest of the difference was soaked up by an increase in the shares of the middlemen; packers and wholesalers increased their take per pound by $1.08, while retailers...
...expense of the farmers? They deny it, argue that increased costs for wages (up 16% in the packing industry from 1954 to 1955), trucking, etc. helped keep the price of beef up. Furthermore, the great increase in processing, e.g., for frozen and readycut meats, builds in costs that make retail prices react slower to wholesale price drops...
...second largest U.S. shoemaker in sales (after International Shoe Co.), bowed to Government charges that purchase of 18 other shoe concerns tended to create a monopoly. It promised that until Feb. 16, 1961 it would seek prior Government approval for further expansions and mergers, and buy 20% of its retail requirements from competitors. The company also agreed to sell its stock in competing concerns within the next two years...