Word: roebuck
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Many a U.S. company has discovered the rich rewards-both to itself and to Latin America-of doing business south of the border. One notable example is Sears, Roebuck, which has spent $26 million setting up 26 stores in five Latin American countries. Last year Sears grossed $79 million on its Latin American sales-and Latin America profited in several ways. Since Sears's sales of locally produced products averaged anywhere from 35% (in Cuba) to nearly 100% (in Brazil), thousands of new manufacturing jobs were created, in addition to the 6,000 jobs supplied directly by Sears (only...
James C. Worthy, resigning after two years as Assistant Secretary of Commerce to return to Sears, Roebuck & Co., where he was director of employee relations before going to Washington, made these suggestions...
...SEARS, ROEBUCK OF MEXICO has just added three stores to the six already in operation, is currently working on a tenth, and will also build a $4,320,000 radio and TV manufacturing plant to boost its percentage of Mexican-made (or assembled) items from...
...mood to do so. They bought for the long term, well aware that an investor who had bought stocks even at the 1929 peak-and held on through depression and wars-would by now have had a 37% profit in General Electric, an 87% profit in Sears, Roebuck, an 800% profit in Dow Chemical. As one Wall Streeter said, "The big boys aren't looking at the Dow-Jones...
Even such an ardent evangelist as Sears, Roebuck's Chairman Theodore Houser, whose company is noted for its huge profit-sharing payoffs, admits that the plan will work no wonders "in a business where a major part of the cost of the product is represented by the cost of raw materials." Furthermore, says Houser, profit-sharing "is not the first step in building a program of sound employee relations, but the last step [after a company] can find nothing else...