Word: stocked
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Dates: during 1960-1969
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...same prices and sell similar merchandise, it is special consideration, quality of service and a good image that attract the quick-roving customer. Courteous salespeople are, of course, the first line of defense, and many aggressive merchandisers now hold training classes, insist that clerks learn everything about the stock. President Mildred Custin of Manhattan's Bonwit Teller trains each salesgirl to telephone special customers when interesting new merchandise arrives...
Despite record profits, rising dividends and bullish forecasts for business in 1966, the stock market has been dropping for five straight weeks. As volume soared to an alltime high of 45 million shares last week, the Dow-Jones average of 30 industrials worried off another two points and closed at 946-just about where it was half a year ago. Is anything wrong? The answer is that Wall Street today is not just one market but two. While the blue chips lag and drag, investors are switching billions of dollars into lower-priced, lesser-known and more speculative issues...
Whatever their motivation, the millionaires frequently pay a high price for their wealth. They work like galley slaves, have little time for recreation or exercise (Arthur Carlsberg every morning does 15 minutes of pushups, sit-ups and squats-"while I listen to stock market reports on the radio"). Usually they put in ten or twelve hours at the office, then spend their nights and weekends pondering reports or burning up the long-distance lines. Practically everything that they do is somehow devoted to building the business. Says Fletcher Jones, 34, of Los Angeles, who in 1959 saw a need...
...make a million by working for yourself." The big corporation is no place to get rich, the millionaires believe; competition for top positions is much more rugged among corporate executives than among self-bossed entrepreneurs. Hired executives rarely become millionaires; the few who do so make the grade through stock options, which they rarely get before...
What the entrepreneur should do, many millionaires advise, is "launch an enterprise in a market where either nobody is doing anything or the leaders are not very good." As soon as his business begins growing sturdy and prosperous, the owner should either float a stock issue to expand it or sell it out to a bigger company that might be willing to pay generously for a well-established specialty business. With his profits, plus any borrowing he may need, the young entrepreneur can then buy control of a still more promising business...