Word: roebuck
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...claims has been widely flouting the price standards. As evidence, Government inflation fighters point to the explosive increase in corporate profits in the first quarter. One result: the Council on Wage and Price Stability (COWPS) has been intensifying its pressure on business. Two weeks ago, it strong-armed Sears Roebuck and Co. into rolling back its catalogue prices by 5%, and last week Giant Food Inc., the Washington, D.C.-based supermarket chain, agreed under Government pressure to reduce prices on a number of items. Following up on a longstanding threat, COWPS also released the name of a company it considered...
...full-page ads across the country, Sears, Roebuck & Co. trumpeted a 5% reduction in its catalogue prices as a "voluntary" move "to help fight inflation." But the sudden-and suspect-volunteerism came after weeks of rising pressure from the Council on Wage and Price Stability (COWPS) and a phone call to the company's Chicago headquarters from none other than Jimmy Carter. It was the President's first such jawboning-by-wire, and the highest official he could reach was the senior vice president for public affairs; the others were out to lunch, and Chairman Edward Telling...
...addition, Americans are using many sources of credit over which the Federal Reserve has little direct control. Sears, Roebuck and other retail chains are pushing instant credit, as are finance companies, credit unions and similar "near banks." Moreover, bank depositors can lay their hands on credit and cash around the clock by sticking plastic cards into street-corner automated teller machines. Says Finn Caspersen, chairman of Beneficial Corp., which charges up to 20% interest on personal loans: "The consumer is borrowing today's dollar to get today's goods and is paying back with tomorrow's inflated dollars...
Food warmers and refrigerator trucks were borrowed from the military, and so were two old but serviceable Sears, Roebuck fishing boats that were used to chill the white wine and champagne. Washington's Ridgewells Caterer provided gold ballroom chairs, creamcolored china with gold borders, cutlery, glasses, fingerbowls and napkins. The main tent, gay as springtime with its tangerine and yellow stripes, was longer than the White House itself. It and six smaller tents were rented for about $12,000 from a Maryland company...
...Morgan now trying to prove that a big corporation like Sears, Roebuck is being discriminated against in a matter involving Government rules designed to aid blacks and women? Morgan, now 48 and a prospering Washington lawyer, sees no conflict: "There's nothing in the Constitution that says anybody isn't entitled to a defense against discrimination, and in that sense there's no difference between cases involving 'Bull' Connor and blacks, and the EEOC and Sears...