Word: roebuckers
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...DEFERMENT PLAN of Sears, Roebuck & Co. to put off paying $150 million in taxes won Internal Revenue Service approval, opens way for other merchandising giants to do same thing. Under plan, Sears will sell to 30 banks $1.1 billion in accounts receivable on installment purchases, act as banks' agent in collecting payments. Sears will pay taxes only after money is received, instead of as formerly, when it paid taxes on sales even though many were made on credit...
...Sears Roebuck and Montgomery Ward 3 selling toys 30% to 40% off. Manhattan's Macys, was moving bestselling new toys below cost. Even venerable F.A.O. Schwartz, "Tiffany of the Toy World," was discounting for the first time in 98 years, had marked some lines down 30%. Surprisingly enough, it was the best toys that often carried the biggest markdowns, e.g., Marx's sturdy, battery-powered go-kart, list-priced at $30 sells for as low as $15. Says the Toy Guidance Council's Melvin Freud: "The retail discounting has stretched the toy dollar 25%. Toys...
...back home in Portland, Ore. have long ago given up trying to figure Baker out. His father left home when Terry was seven, and he was raised by his mother, who put two other sons through college by working as a Teamster on the loading platform of a Sears, Roebuck store. In high school Baker was almost too good to be true. He was an A student. As a high-scoring forward, he took his basketball team to two city championships. Throwing with his right arm, he pitched his baseball team to victory in the state finals. Passing with...
What would be Castro's next move? He could 1) make a formal demand, perhaps through the World Court, that the U.S. evacuate the Guantanamo Naval Base (which last week beefed up its Marine contingent); 2) confiscate the remaining $250 million in U.S. businesses, including branches of Sears, Roebuck and Woolworth, Westinghouse and General Electric; 3) break off diplomatic relations entirely; 4) stage an "incident" to prove U.S. aggression. At week's end the U.S. sent a curt note to Havana protesting that five Castro airforce planes were being painted over with U.S. insignia at San Antonio...
...many, the current business slowdown is really an adjustment to the consumer's growing predilection for the myriad new services his money can buy. "This causes dislocations within the economy," explains Sears, Roebuck Chairman Charles H. Kellstadt, "but given the level of gross national product and disposable income, it is no cause for alarm. It simply reflects the fact that our rising standard of living has made us a predominantly consumer-oriented economy. It is not a case of not growing, but of growing in a new direction." In the past five years the real output of services...