Word: retailing
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Dates: during 1960-1969
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...Harvard University Press sends a letter to all retail book stores authorizing a reduction in price to thirty-nine cents for President Pusey's Age of the Scholar "as a means of increasing sales of this timely book." Discovery of the inscription "Guaranteed Puncture-Proof" on a piece of liver served in the Lowell House Dining Hall sparks a University investigation of Central Kitchens practices...
Less Frivolity. Booming Christmas sales, which usually account for about 20% of all annual retail sales, are being taken by retailers as a good omen for 1964, and a sign that merchants can expect to set more records this spring, when Easter comes earlier than usual (March 29). At the beginning of this year's Christmas rush, merchants noted a fall-off in sales after the President's death, and when the crowds set forth again, they showed more restraint and less frivolity than in many years. But people still had to buy gifts for wives and husbands...
...whatever is left quickly in order to cut their interest payments and clear their stocks for spring merchandise. "Business between Christmas and New Year's is always fabulous," says Robert Daly, Chicago district manager for Montgomery Ward. "It is an exciting time in the retail business...
...Midwest's biggest bank (assets: $4 billion) was once known as "The Sleeping Giant of LaSalle Street" because it conservatively plowed its rich deposits into low yield securities. Today, advertising itself as "The Big Bank with the Little Bank Inside," Continental is wide awake to the potential of retail banking, allots 60% of its funds for loans, and stresses "family banking." Continental's Benzedrine was administered by Chairman David M. Kennedy, 58, who came to the bank as a bond officer in 1946, after 16 years as debt manager and economist with the Federal Reserve, and became Continental...
...more menacing to Park is South Korea's chaotic economy. In the past year, retail prices have climbed 40%, and some 10% of the labor force is unemployed. Foreign exchange reserves have plummeted to $105 million. Desperate for a new dollop of U.S. economic aid, Park invited a U.S. congressional delegation to his inauguration. But the U.S. has slashed next year's total aid commitment by $54 million to $236 million, hopes to pressure Park into stabilizing the economy...