Word: seagrams
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...Yorker, Brown started selling shoes at 18, studied journalism in New York University night school, tried reporting for New York's Daily Mirror, went back to selling shoes, later became general merchandise manager for Chicago's Goldblatt Brothers department store. In 1936 he began selling whisky for Seagram & Sons, and after a stint with several other distillers went to Beam as sales vice president...
...Federal Trade Commission last week dropped monopoly complaints against Joseph E. Seagram & Sons and Schenley Industries after they signed consent decrees. Under the agreements, subsidiaries of either of the companies are forbidden to band together to fix prices or otherwise restrain trade among themselves, even though it might be all in the family. The ruling means that price-fixing agreements by different branches of a corporation are legal only if those branches are set up as divisions, as in General Motors, not as separate corporate subsidiaries...
...buying less, or shifting to lighter drinks, because of stiff federal taxes on spirits, boosted last year from $9 a gal. to $10.50. At retail the price is still higher because venders add their normal markup (average 22%) to the tax itself* While the Big Four distillers (Schenley, National, Seagram's and Hiram Walker) insist that they will maintain prices, smaller distillers have already begun to cut prices of straight whiskies. Sample: United Distillers has slashed its J. W. Dant bottled-in-bond sour-mash bourbon by 90? a fifth...
...seventh largest meat-packing firm in the U.S., but way down the list in profits. To jack them up, Kingan's directors lured H. Frederick Willkie, brother of the late Wendell Willkie, away from his $100,000 vice president's job at Joseph E. Seagram & Sons Inc., installed him as president. Kingan's conservative President "W.R." Sinclair agreed to step aside while Willkie worked on the patient...
...keeping prices too low landed the Schwegmanns in court. They refused to sign a fair-trade agreement with Seagram and Calvert distillers, and sold their liquor at cut rates, despite Louisiana's fair-trade law that made such price-cutting illegal. Last week, after three years of battling right up to the U.S. Supreme Court, John Schwegmann triumphantly hung a sign in the middle of his supermarket...