Word: retailing
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Dates: during 1960-1969
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...Board practice, actual stock prices are published, not including the fixed broker's commission. By contrast, an over-the-counter stock quoted at $40.50, including a 3% "retail markup," is actually worth $39.25. Because the buyer never knows the size of the hidden markup, the SEC said that the practice is deceptive and urged the National Association of Securities Dealers to publish true prices instead. The NASD objected, arguing that this practice would drastically cut profits and drive small dealers out of business...
Consumers so far have not pared their personal spending. Retail chains set sales records in September, though the rises were much lower than earlier this year. Some businessmen in Boston, Denver and Los Angeles have noticed a reluctance to buy luxury goods; but Government economists predict that total consumer purchasing will stay strong because wages are increasing so rapidly...
Seeking a Scapegoat. No investigation is needed to establish the major point: for the first time since the inflationary Korean War period, food prices are climbing faster than overall retail prices. According to the Bureau of Labor Statistics, food has gone up by 3½% in the past year; meat, fish and poultry 7½%, dairy products 5½%. Local situations dramatize the difficulty. In Chicago last week the retail price of butter was 93? per lb., up 12½? from last year. In Detroit, lettuce has gone from 20? a head to 29?, cabbage from...
...puts at least part of the blame on the housewife. After all, Freeman notes, she insists on buying such processed meals as TV dinners, when the same ingredients would cost her one-third as much if she were willing to cook for herself. The housewife tends to castigate the retail groceryman. Says New York City Markets Commissioner Samuel J. Kearing Jr.: "When the housewife finds that she has to pay 2? more for bread, her immediate reaction is that the store owner must be making more. That's unfair." Grocers agree: they in their turn point a finger...
...free market, the British housewife has struck a good balance between the high cost of unlimited choice and the low cost of no choice at all." P. & G. pointed out that detergent prices have gone up only 8% in the last seven years, as against 18% for the whole retail price index. Said London's weekly Observer: "The TV commercials are sickening, and the Fairy Snowmen frankly ludicrous. It doesn't follow, however, that any of this is wasteful. High-pressure marketing is increasingly the lubricant to economic growth...