Word: retailing
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Dates: during 1960-1969
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...world's biggest exclusive shopping preserve. Last week the payday rush was on in 5,933 PXs, helping to make the Army and Air Force Exchange Service rank in dollar volume below only Sears, Roebuck, J. C. Penney, Montgomery Ward and F. W. Woolworth among retail chains. To maintain its place as one of the U.S. military's greatest fringe benefits, PX branches stock up to 30,000 items, sell everything from underwear to refrigerators-all at cut-rate prices designed for the private who earns only $78 a month, the master sergeant who earns...
Only five minutes away from the traditional downtown "core" shopping area of Portland, Lloyd Center is a consumer's cornucopia. Its more than 100 retail stores are carefully clustered in competing groups (e.g., hardware, dresses) so that bargain hunters can save shoe leather. The sculpture and mobiles of Northwestern artists dot the landscape, and no flashy advertising or jutting store signs are permitted. Lloyd's has an ice-skating rink with live music, professional offices, seven restaurants, is dominated by the new 300-room Sheraton-Portland Hotel...
...Great Change. At the turn of the century, railroads were the great growth stocks; after World War I, retail-store chains took off; and utilities were the growth stocks of 1929. Chemicals, liquors, oils, motion-picture companies, airlines-all at one time or another have been the darlings of Wall Street. Now many of them have become sedate blue chips, and no longer show the growth and earning potential that the Street demands. After a ten-year rise in which their market value almost trebled, many blue chips seem to have temporarily exhausted much of their growth potential. Since January...
Workers now covered would win a new hourly minimum of $1.15, instead of the $1.25 asked by the committee and the Administration. Some 1,400,000 newly covered workers, mostly in retail services, are guaranteed a $1 wage floor (the present minimum), but are excluded from time-and-one-half overtime provisions. The bill may run into trouble in the Senate, where a broad-based (3,500,000 new workers). $1.25 minimum wage bill, backed by labor, has the right...
...expects steel production to pick up by late summer, average out to more than 70% of capacity for the year. Says he: "1960 will be one of the industry's best production years, with a bare possibility of topping the 1955 record ingot output of 117 million tons." Retail sales are still above last year (see chart), and Sears Roebuck Chairman Charles Kellstadt expects his company's 1960 sales to increase 5% over 1959 sales of about $4 billion. The auto industry has a million-car inventory on its hands, only 16% in the fast-selling compacts. Dealers...