Word: shakeout
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This year's giants in the field are stronger than ever because they have weathered a vigorous shakeout. A few years ago there were 100 manufacturers. Scores dropped out, including Servel, Vornado, International Harvester. Each victim left behind a heavy inventory, which went at fire-sale prices. Now inventories are down to the bone, and the price wars are past...
...momentous change. In the old days individual economic decisions had to take into account that price upcreep would be followed by a price shakeout. But today it is tempting to assume that there will be no more price shakeouts, that prices will go right on edging upward...
...hope of sharing in the growth of the economy. But it is not too high in the light of the earnings investors think they can expect. Nevertheless, some experts expect a pause or short drop for the Bull to catch his breath. The pessimists fear a major shakeout. They could be right only if the nation's reading on its new economy is wrong. And in 1958 the economy's reaction to recession earned it a well-deserved vote of confidence...
Competition & Customer. In downtown Washington, D.C., eight, or about half, of the city's big discount houses went out of business in the past year. The shakeout is almost as severe in Los Angeles, Boston and Dallas, where dozens of small discounters have fallen by the wayside. A St. Louis discount house, H. E. Krisman & Co., pushed its gross to $3,500,000 annually-and lost $200,000 doing it. Says George Wasserman, owner of Washington's George's Warehouse: "The big ones are holding their own, but the little ones are going out of business...
...shakeout, Smith hopes to make just a few people responsible for decisions...