Word: undercutting
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...firms go abroad with the prime intention of making products for the U.S. market. They usually begin by buying cheaper components abroad to put into U.S.-made products, or by setting up plants overseas to compete better in growing world markets. Once overseas, an increasing number of firms, undercut at home by foreign imports, find their cheaper, foreign-made goods just the thing to fight competition in U.S. markets. Royal McBee set up a typewriter plant in Holland in 1953 as part of its world marketing program, but heavy competition in the U.S. from foreign-made, lightweight typewriters forced...
...Secretary of State Herter and Under Secretary of State Dillon have all made it clear in recent weeks that the U.S. will go to the summit determined to hold fast to its rights in Berlin, and Nikita Khrushchev has shown in tough-toned speeches that the U.S. firmness has undercut his hopes of making any headway at the summit...
...Government to raise money. But it has just about killed the hopes of Treasury Secretary Robert Anderson to end the 4¼% interest ceiling on long-term Government bonds. His stand-that interest rates were so high that the Government could not sell any long-term issues-was undercut by the slide in rates, which has dropped yields on Government bonds until many are selling at around 4%. Thus Anderson, who must raise between $2 billion and $2.5 billion in new money in the next few weeks, is expected to try to raise some of it in long-term bonds...
...Pacific to Vancouver and San Francisco, finally home via the same route. With her sister ship, the still-building, 40,000-ton Oriana, the Canberra will give P. & O. a commanding lead in Pacific passenger travel. Since it first sailed in these waters in 1954, P. & 0. has undercut the luxury-minded Matson and American President lines by emphasizing low-cost tourist-class rates; next year alone, the company will boost its berth facilities for Pacific travel...
...Atlantic runs, e.g., South America to southern Europe, 6% to 10% on flights from Europe to Asia. The cuts, which will go into effect May 1 and Oct. 1. were designed in part to avert price wars between I.A.T.A. members in areas where they were being undercut by other airlines. In some cases, propeller ticket prices were cut more than jet-flight fares. The airlines will also drop the de luxe and tourist-fare classes, offer only first-and economy-class travel...