Word: undercutting
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...Army, Correspondent Davis reported on its bankruptcy by telling how Roberto Farinacci's Fascist Party plotters undercut the Old Guard and ousted Marshal Pietro Badoglio. Correspondent Whitaker added: "The Fascists have deliberately spread lies about the corruption of Badoglio. He isn't corrupt. He is merely a very old man. . . . Graziani is a sick man, suffering, perhaps, from cancer of the throat...
Lowest bid was Motormaker Ford's: he had undercut the Chrysler subsidiary by $250,000. But Henry Ford had refused to sign the provisions of the War Department's Procurement Circular No. 43 which would have bound it to comply with State and Federal labor laws. Found guilty over & over again by NLRB of unfair labor practices, Henry Ford has appealed to the U. S. Supreme Court, meanwhile takes the view that he is not bound by Labor Board rulings until the Supreme Court says...
Potash politics come easy to Europe's masters of power politics. Europe's Cartel is about two-thirds Potash Syndicate of Germany, some French, less Polish. Its bankers are British. Spain, an independent producer, thoroughly undercut the trust's prices in 1933 and 1934. But in the spring of 1935 the Syndicate, thanks to German control of Spain's oldest potash company, made a tentative deal with Spain. Immediately the world price snapped back from its trade...
...April 19, stood last week at 1,160. When this 40% price rise began, the small group of U. S. branded hosiery makers (such as Gotham and Phoenix) which control their resale prices had already announced their spring prices. For fear that unbranded rivals would undercut them, they did not raise prices and continued to manufacture out of previously purchased supplies. Meantime the silk became harder & harder to buy. Last week the National Association of Hosiery Manufacturers sent out a special news bulletin advising cooperatively restricted silk buying and advancing seasonal shutdowns...
Immediate result of low prices is likely to be higher corporate profits, for many companies can buy raw goods cheap without reducing the prices of their finished products. Sooner or later, however, such profits fail, undercut by lack of buying power among producers of raw materials. Last week, for instance, the Department of Agriculture announced that farm income of $6,400,000,000 in 1938's first eleven months was 13% under...