Word: undercutting
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...this touched off a wave of frenzied price cutting in many cities, as everyone tried to undercut the competition. Manhattan stores sold $39.95 G.E. clock radios for $27.95; Los Angeles retailers chopped waffle irons from $22.95 to $15.88; Chicago's Sol Polk cut his discount prices on electric skillets from $12.95 to $9.98, and hurried to order another 10,000 small appliances. Yet in many other U.S. cities, the news stirred hardly a ripple. In Washington, D.C., Detroit, Dallas, Denver and dozens of other markets, Fair Trade on these items has long since died. Said a Milwaukee department-store...
...when its shabby flatware industry was nearly defunct. The first few small orders from occupation forces for stainless-steel flatware helped keep its 15,000 people alive. Then in 1949, some U.S. cutlery companies saw in Tsubame a wonderful opportunity. The U.S. companies wanted low-priced stainless steelware to undercut the high-quality product that Europeans had begun shipping to the U.S. They sent technicians to Tsubame, supplied it with equipment, orders and credits When U.S. silverware makers also be gan feeling hot European competition against their plated tableware, they too joined in building up Tsubame's production...
...Hand Allison had already written out his resignation in protest against a series of United Press stories from Washington saying that his reporting on the Indonesian crisis (see FOREIGN NEWS) was inadequate. Allison's Washington friends suspected that Allison's Washington rivals were planting the stories to undercut him. To buoy him up, Secretary of State Dulles cabled Allison a personal compliment on the excellence of his report, ordered that Spokesman White's press-conference remarks be included in his message...
Living up to this philosophy, Nervi has won his commissions not for esthetic reasons but through his ability to undercut his competitors, make records in construction time. His stadium in Florence, seating 35,000, cost only $2.90 per seat to build; recently he put up a three-story factory in 100 days. Faced with commodity scarcities and cutthroat competition, he has still managed to raise pure structure to the level...
...Mississippi Power Companies; of a heart attack; in Manhattan. When the Atomic Energy Commission contracted with Middle South Utilities head Edgar Dixon and Yates to build a plant near Memphis to supply the AEC with power, the deal was bitterly attacked by public power proponents as a scheme to undercut TVA, became a major 1956 campaign issue...