Word: retailing
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Dates: during 1960-1969
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...weeks ago. Said Inland Steel's Chairman Joseph Block: "We are not in any economic crisis which might favor the Government's busting right in with a quick across-the-board tax cut." Some key barometers of business released last week-industrial production, housing starts, retail sales, new orders-showed small rises for July. This news cheered the stock market, but the President's speech also helped by clearing the air. Said Walston & Co. Market Analyst Edmund Tabell: "If there's one thing the market hates, it's uncertainty." Wall Streeters took heart...
...Retail sales-up 2% in July to $19.5 billion-look good, though they are down a shade from April's record $19.6 billion. The Federal Reserve Board's latest survey of consumer buying intentions concludes that spending by the public is beginning to level off. Says University of Michigan Economist George Katona: "The consumer's mood is sober because of three persistent concerns: the recurrence of recession, the relatively high unemployment, and the cold...
...when he bought Syracuse's two evening papers, the Herald and the Journal, both were losing money?$450,000 the year before. Overnight, Newhouse changed the loss to profit. To get full city coverage, Syracuse advertisers had been compelled to buy space in both evening papers, at a retail rate of 10^ a line in each. Newhouse merged the two papers, retaining their best individual features. Then he raised the Her aid-Journal's retail ad rate to 13¢ a line. Merchants responded to the bargain, and retail ad sales rose nearly $1,000,000 the first year...
...growing list of unsettling economic indicators contributed to the negative thinking. Retail sales, off 1% in May, dropped another 2% in June-partly because of an unexpected fall in auto sales. Building permits for new housing, which rose last winter to foretell this spring's burst of construction activity, are now trailing off. Railroad carloadings-often considered a key index of business activity-ran below last year's levels for most of June, and railroadmen look for July's seasonal decline to be worse than usual...
Sudden Comfort. Despite his professed disinterest in politics, Idemitsu owes his success largely to a canny ability to ride the political tides. He started with one small retail oil outlet in 1911 and steadily expanded across Japan. Then he followed the invading Japanese army into China in the 19305, pushing out U.S. and British oil companies. It was a wry joke among Japanese soldiers that whenever they captured a Chinese town, the first Japanese civilians to arrive were the "comfort girls"-and an Idemitsu...