Word: discount
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Dates: during 1950-1959
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Before the White House announced its antirecession program last week (see NATIONAL AFFAIRS), the Federal Reserve Board aimed another and more familiar counterpunch at the recession. For the third time in four months, FRB cut the discount rate. Reserve banks in New York, Chicago, Philadelphia and Atlanta reduced the rate from 2¾% to 2¼%. Most of the other eight central reserve banks will soon follow; the cuts are expected to lead to lower interest rates to boost loans and business expansion...
Reduced Thoroughfare. In Alhambra, Calif., homeowners in a growing subdivision-expecting the name 'Viscount" for their new street-complained when signs reading "Discount Street" were...
...competition has forced discount houses to add delivery and credit services, advertise widely, and increase their wares until the old, appliance-cluttered cubbyhole is hardly recognizable. The increased cost has shot down many a fly-by-night discounter. But those who survive are accepted as legitimate businesses with all the rights of established stores-and then some. At first, discounters got only distressed merchandise and off-brand appliances. Today, they are such important customers that many manufacturers rate them higher than department stores. One fast-rising newcomer: the "pricelegger," who out-discounts the discounter by operating from an office filled...
Nowhere does list price mean less than in the U.S. auto industry. Says Ward's Automotive Reports: Discounts are here to stay. "The 25% dealer price markup is greater than can be justified by the services performed by the dealer." The manufacturers' suggested list price has also become meaningless as the difference between it and the actual "delivered price" that the customer pays has increased. The original list price does not include taxes, delivery charges and optional equipment, which often add $1,000 to the cost of a car. As customers have learned to bargain harder, the percentage...
...many oldtime retailers, the day of the discount spells doom for the small neighborhood businessman, who has neither the capital nor the market for a high-volume, low-price operation. But while it is rough on retailers, it is fine for the U.S. consumer, who at long last has learned to call the tune. In the long run, it may also prove just the right tonic for U.S. businessmen, who will be forced to pare their soaring distribution costs-which are often equal to production costs-down to realistic levels...