Word: retailing
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Dates: during 1960-1969
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...quite a bill that Congress bought. For 24 million workers already covered by the minimum wage law, the measure provides a raise from $1 to $1.15 by Labor Day and to $1.25 by September 1963. For 3,600,000 newly covered retail, service and construction workers, it provides a $1 floor this fall, with step-by-step raises to $1.15 by September 1964-just two months before the next presidential election-and to $1.25 in September...
...over February's figure of $46 million. The increase underscored a McGraw-Hill survey indicating that industry had raised its sights on capital equipment expenditures for the year to $35.4 billion, only 1% less than in 1960. Railway freight-car loadings jumped for the fourth straight week. March retail sales soared to a record high of nearly $18 billion, up 2.6% over the previous record, set in March 1960, while the cost-of-living index held steady for the fifth month...
...secret, says Magnavox President Frank Freimann, is market selectivity. He limits his retail TV-phonograph dealers to the fewer than 2% in the U.S. that he thinks are best, deals directly with them to cut out middleman costs and prevent Magnavox products from winding up in discount houses at profit-breaking prices. As the company grew, he kept it from becoming top-heavy with bosses (a ten-year sales increase of 294% increased the number of top executives from only five to ten). In research, says Freimann, "the big thing is to avoid blind alleys...
...would lift the wage floor from $1 to $1.15 and extend coverage to 1,400,000 additional workers, all of them engaged in interstate commerce. Kennedy wanted much more: a two-stage boost to $1.25 by mid-1963, with coverage for 4,100,000 more workers, mostly in the retail trades...
...called on some Senators whom they had not visited in years, telling each one of labor's reputed strength at the polls. They concentrated their fire on the biggest single threat to the Kennedy bill: an amendment by Oklahoma's middle-road Democrat Mike Monroney to exempt retail and service firms that do business in only one state. That amendment had lost by a cliffhanging 50 to 48 last summer, and now Monroney thought he had a chance of winning...