Word: retailing
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...level of $1. Investors will get back only 94 cents on the dollar. SEC chairman Arthur Levitt announced the move at a hearing of the House Banking Committee Tuesday. The liquidation of the Denver-based fund, known as the Community Bankers U.S. Government Money Market Fund, should not affect retail investors directly. All of its $83 million in assets was deposited by 113 institutional customers, mostly banks. And Levitt emphasized that the demise of the fund, which lost value when risky derivatives that made up 43% of its assets plunged in price, appeared to be an isolated incident...
...competition has become much more intense in music and books, especially clothing, with all the retail stories in the Square," Murphy said, "and in paper goods with competitors like Staples...
Maybe, maybe not. Those Clinton political counselors promoting a tax cut contend that it may be needed to stimulate consumer buying and keep retail sales and production growing. But the President's economic advisers, by contrast, think business needs no such stimulus. They fear that the loss of revenues from a tax cut not offset by budget cuts or revenue increases elsewhere might cause the deficit to start growing again, forcing up interest rates and harming rather than helping business. Clinton has yet to make up his mind...
...consumer electronics and sneakers. But this year foreign visitors are being lured in near record numbers by the very weak dollar, which has made good deals even better, and by the new efficiency with which American packaged-tour companies move tourists in and out of stores. Rock-bottom retail prices -- anywhere from 30% to 70% less than those in Europe and Asia -- are expected to bring some 47 million visitors to the U.S. this year, compared with 45.8 million last year. They will leave behind an estimated $79 billion, according to the U.S. Travel and Tourism Administration -- up from...
...retail front, the racks of audio books that have sprouted in bookshops are appearing in video and record stores as well. "The biggest problem we faced in growing this business was a lack of consumer awareness," says Jenny Frost, vice president and publisher of Bantam Doubleday Dell Audio. "Now people are finding them in retail outlets, trying them and discovering they think they are great." Inevitably, specialty stores have begun to crop up. Houston's BookTronics is one of the largest to carry nothing but audio -- with 8,000 titles for sale and rent. "We call ourselves the bookstore...