Word: retailers
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Dates: during 1960-1969
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...inflation, probably tapering off toward year's end; sluggish 2% real growth in the over-all economy, which will expand from $933 billion to $985 billion or $990 billion. A few sectors of business anticipate substantial difficulties. Auto manufacturers (except Ford) have already curtailed production a bit, and some retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman of front-ranking Federated Department Stores. "We expect that after Christmas he will become a tough buyer, more value-conscious than in a long time...
Selling on Sunday. The auto companies are not alone in their struggle against increasing consumer resistance. For the first nine months of this year, overall retail sales are only 4% above their 1968 pace-less than the rate of price increases. Even in Southern California, where department-store sales are generally up, one discount-store manager, Paul Hulse of Redondo Beach's Hartfield-Zodys, detects a downturn in sales of color televisions, luxury refrigerators and stoves. To meet the competition of discount stores, Sears, Roebuck has opened some 175 of its 825 stores for business on Sunday. Retailers...
...West Pointer (1900) who rose to brigadier general, Wood had one motto: "Let's charge!" And charge he did soon after he joined Sears as a vice president in 1924. Within four years he was president, and what was previously a rural mail-order house swiftly expanded into retail stores, insurance and financing. One of Wood's wisest moves was pioneering an employee profit-sharing plan that now owns 22% of the company's stock. He retired in 1954 but remained as a director until last year, helping to oversee the company that he built into...
OKUN: Federal pay is a real scary area now, given the attitude in Congress and the pressures of the unions. Let us take another simple thing like fair trade. If we could repeal the fair-trade laws that allow some manufacturers to fix retail prices, that action alone could reduce the consumer price index by an estimated three-tenths of 1%. Then there are oil imports and the whole range of policies regarding agriculture, which have important price implications...
Funds would have to come from the property-owners. Payne admitted, in return for which they would receive "in creased rents from the leasing of the new retail space" on the second level. He said he hoped for a "gesture of interest" from the city-possibly financing construction over public rights-of-way, or merely furnishing "legal sympathy" in such matters as zoning...