Word: retailing
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Dates: during 1990-1999
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Dean Witter, once owned by Sears, has long been the little guy's friend on Wall Street. It has shunned such fancy fads as junk bonds and bankrolling corporate takeovers in favor of the mundane. Morgan Stanley has always considered such "retail" brokerage a pauper's enterprise. It has stuck with raising capital for the world's largest companies and advising them on what to do with same. Individual investors? Phew. Morgan bankers wouldn't soil their wing tips in that mire...
...Coop buys back books being used for the current semester at up to 50 percent off retail prices, he said. However, the Coop also buys books back according to a wholesale guide whose prices are generally lower, because of uncertain demand in the wholesale market...
Sometimes "progress" should be stopped dead in its tracks. Two years ago, my sleepy hometown of Chappaqua, New York was rudely awakened by the arrival of a Rite-Aid store in its downtown area. This is not such an unusual event; Rite-Aids, Blockbuster Videos, Staples and similar retail outlets are springing up in cities across America. But to a small suburban hamlet whose downtown district could easily fit inside the walls of Harvard Yard, the coming of such a superstore provided weeks of check-out counter chit-chat. We already had three drug stores within a mile...
...clothing empire were cited by California inspectors for illegal home-sewing operations. Then a class-action suit accused Guess and 16 subcontractors of paying their mostly immigrant workers less than minimum wage. Ornery picket lines spread from Guess's shop on Beverly Hills' Rodeo Drive to its 66 other retail outlets across the country. And in a final one-two punch, the National Labor Relations Board forced the firm to rehire employees it had fired for union sympathizing, while the U.S. Labor Department nudged it off the "Trendsetter" list of manufacturers who forswear sweatshop practices...
Banana Republic? Yes. If a growing number of companies have their way, there will be a lot more memories like that. Retail chains are working hard to link their brands with the music younger customers want to hear. In recent years the Gap, Banana Republic, Victoria's Secret, the Pottery Barn and others have produced their own CDs and sold them at their checkout counters. Last week a new player was announced: Philip Morris, the world's largest cigarette maker...