Word: woolworths
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Dates: during 1960-1969
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After years of denouncing discount houses as the slums of retailing, traditional retailers have begun to see the force of the old dictum: if you can't lick 'em, join 'em. In recent weeks Allied Stores Corp., F. W. Woolworth Co. and S. S. Kresge Co. have all announced plans to set up their own discount operations. Last week the nation's largest discount house countered with the news that it was about to move into the inner sanctum of retailing society. As the newest addition to its chain of 14 stores in four states...
...chunks of the Baltimore & Ohio and Missouri Pacific railroads, Alleghany controls Minneapolis' Investors Diversified Services, a $3.4 billion investment giant that includes the world's largest mutual fund. In the biggest and bitterest proxy fight in U.S. history, the Murchisons snatched Alleghany out of the hands of Woolworth Heir Allan P. Kirby, 68, a Wall Street titan with a fortune far bigger than theirs. More impressive yet, they won by rallying more Wall Street support than Kirby himself. "All of us here in Texas were pulling for them," says Dallas Insurance Millionaire Jimmy Collins. "We like big deals...
...Texas victory was the payoff on a cool gamble in which the odds at first seemed to favor the tough and elegant Kirby, heir of one of the founders of the F. W. Woolworth Co. Last year Kirby maneuvered the Murchison brothers out of control of Investors Diversified Services, the nation's largest (assets: $3 billion) complex of mutual funds, and returned control to Alleghany. Encouraged by their wily father, Oilman Clint Murchison Sr., 66, the young Murchisons replied by opening a fight for mastery of Kirby's Alleghany itself...
Responding to the announcement, James D. Perry '63 called for a revival of CAMP (Committee Against Misguided Picketing). Last year CAMP picketed integration pickets in front of Woolworth...
...have a gold-lined pocket to visit the U.S. So far, KLM has done most of the dragon slaying. Its agents are pushing a clever little booklet called Een Handige Budget-Baedeker. To potential travelers the Budget-Baedeker gives helpful tips on where to find bargains in New York-Woolworth's, Klein's on Union Square, Masters discount house, and Ohrbach's ("copies of haute couture"}-and how to get by adequately on $12 to $13 a day. It suggests that tourists eat as Americans do-at drugstores, Howard Johnson's ("excellent soup of mussels...