Word: retailing
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Dates: during 1960-1969
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...requirements permit an investor to buy $100,000 worth of Government securities by putting down as little as $5,000 cash; if the bond's value rises just one-half point, he earns $500. Bond dealers are made or broken by their ability to predict instinctively how much "retail buyers" will be willing to pay. The fractional prices change rapidly, pushed up and down by such factors as bank interest rates, stock dividend rates, rumors of increased Government borrowing, the state of U.S. business and the bond market's elusive "mood." Few dealers had sharper instincts or better...
Throughout the U.S., economists who had predicted that February's $11.5 billion tax cut would touch off a strong wave of consumer spending were pleased to find that so far they have been wrong. Retail sales are rising nicely, but the consumer, whatever he has done with his tax savings, has shown no signs of going on the splurge expected of him. Perhaps partly for this reason, economists for the prestigious 100-man Business Council, which met in Hot Springs, Va., stuck steadfastly to their cautious prediction of a $620 billion gross national product for 1964-even though...
...than in 1963. General Motors' earnings of $536 million were the highest for any company in any three-month period in business history, and huge profit gains were reported by giants as varied as Eastman Kodak (up 25%), U.S. Steel (up 72%) and the Monsanto Co. (up 84%). Retail sales marched upward, and so did construction contracts. Auto and steel production continued at record or near-record levels...
...common knowledge in the milling industry," said Chairman Philip W. Pillsbury of Pillsbury, "that a good deal of bakery flour is sold at a loss." Since the Korean war, says he, the millers' profit margin in the sale of bakery flour has held at 1% of the retail price of a loaf of white bread. Actually, argues Pillsbury, the Government has a bigger hand than the millers in setting prices. The cost of wheat makes up five-sixths of the flour price, and Government crop-support programs are the major factor in determining the wheat price...
...modern theme has done little to help the Conservatives' chances yet. The Government's bill against retail price fixing angered Tory shopkeepers and M.P.'s Chancellor of the Exchequer Reginald Maulding's budget insures that the year-long wave of Tory prosperity will continue through the summer. But it may result in serious inflation and a blance of payments deficit, and it does nothing to reform Britain's archaic tax structure...