Word: retailing
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Dates: during 1980-1989
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...Years of Photojournalism is a first for TIME: a single-topic, single- advertiser issue that is being sent free of charge to all 4.3 million subscribers. (The issue will also be on sale at retail locations for the next month.) The topic is one that TIME has helped shape during much of its 66-year history -- especially in the past decade, when the magazine became a leading force in color news photography. The single advertiser is Kodak, another organization that has long been a major factor in photojournalism...
That kind of encyclopedic knowledge, combined with personal attention, is one reason why the nation's independent book shops, once a vanishing institution, are flourishing as if they were the newest wrinkle in the retail business. They are prospering despite the fact that the 3,000 outlets of major chains like Barnes & Noble, B. Dalton and Waldenbooks account for about $2.5 billion in book merchandising, or 40% of U.S. sales...
...technical jobs, an annual payroll of $1 million and perhaps a few carloads of tourists drawn to the remote prairie for a look at what townsfolk fondly call the "big, pregnant whale." Says local newspaper editor Robert Halpern: "This is a real shot in the arm for retail sales and real estate -- and community pride too. We used to get attention for our cow pastures. Now people know we're doing all we can to fight the drug...
While B.A.T hired astute managers, the other two investors failed to recognize the industry's finicky and cyclical nature. Says Monroe Greenstein, who follows retailers for Bear, Stearns: "These people are developers and financiers. While they may be savvy about other types of business, they don't have that retail knowledge." The new owners may not have such problems. Among the most probable bidders are Little Rock's Dillard and St. Louis' May stores. In this industry, at least, ownership may shift back to U.S. hands...
Depending on the small college market could ultimately sink Microfridge, Inc., said Chuck Ryan, an industry analyst at Merrill Lynch. Ryan also said the retail price was high enough to be a probable stumbling block...