Word: roebuck
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...committee for each industry, which will then fix that industry's floor & ceiling. Mr. Andrews had already called in textile operators, textile labor delegates and representatives of the consuming public. Correspondents learned that: 1) Chairman of the textile committee would probably be Vice President Donald Nelson of Sears, Roebuck & Co. (the man whom Franklin Roosevelt tried in vain to get for Mr. Andrews' job) representing consumers. 2) The floor for textile workers would probably be set at 30?. 3) The Administrator knew that textile employers have lately cut wages in anticipation...
Second choice for the new job (the President first begged Sears, Roebuck's Vice President Donald Nelson to take it), Elmer Andrews is lucky that so far he has not antagonized either C. I. O. or A. F. of L. But he will have his work cut out for him enforcing the Wages-&-Hours law and managing the boards he will pick to adjust wages and hours in specific industries...
...investment trust, controls Occidental Life Insurance Co. of Los Angeles. In June 1936 at a court receiver's sale Occidental bought Federal Reserve Life Insurance Co. of Kansas City and last year acquired Guaranty Life Insurance Co. of Davenport, Iowa. Last month Occidental started negotiating with Sears, Roebuck & Co. for the purchase of Hercules Life Insurance Co. of Chicago (TIME, April 4). Last week this deal was called off. Reason given by President Carl L. Odell of Hercules: "Public opinion seems to be against removal of assets . . . so far from Illinois...
...pages in the new Sears, Roebuck catalogue, only four advertise books. But Sears, Roebuck is a big factor in one branch of the book business. Since 1920 it has owned a controlling interest in the Encyclopædia Britannica (total sales-1,000,000 sets). First published in Scotland in 1768, the Britannica came under U. S. ownership 35 years ago, barely squeezed through its 12th, 13th and 14th editions, was often rescued by the late Julius Rosenwald when he headed Sears, Roebuck. For its 14th edition, it needed $2,500,000 to keep going. This month veteran Editor Franklin...
Last week Sears, Roebuck's Wood announced that Hercules Life had been sold to Occidental Life. The price: a secret, at least until approved by authorities. Hercules had been "doing all right," said General Wood, but "you can't sell life insurance through a catalogue...