Word: retailers
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Dates: during 1970-1979
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...surest way to ease the upward pressure on prices is an economic slowdown, and the TIME economists see signs of recession proliferating. In April, personal income rose by an anemic .3%, down from 1.2% in March. The real volume of retail sales has declined during most of the year so far, and car sales are falling. The index of leading indicators has dipped for three straight months. From March to April, industrial production dropped 1% and housing starts fell 2%. The nation's savings banks had a record net outflow of $1.1 billion last month. Since savings banks provide...
...apparel, autos and financial services. Already this group spends 50% more than the average consumer for furniture and one-third more for appliances. John Widdicomb Co., a top-of-the-line furniture manufacturer, has increased its advertising to attract these people, while Chicago's John M. Smyth Co. retail furniture chain has expanded its interior decorating services to appeal to the more sophisticated customer entering early middle...
...system and fully enjoys its rewards. He is chairman and co-owner of Amway (a contraction of American way) Corp., one of the nation's most successful private firms, which is engaged in what he calls "in-the-home selling." In this its 20th year, Amway expects to retail $750 million worth of cosmetics, vitamins, jewelry, home-care products and some 4,000 brand-name appliances and other items direct to customers through catalogues by a network of 300,000 door-to-door salespeople. Amway's achievements are evident not only in its fleet of four corporate jets...
...past four years, the Federal Trade Commission has been investigating Amway on a variety of charges that include fixing the retail prices that its independent salespeople could charge, allocating sales territories and misrepresenting the amount of money that distributors could earn. Last July an administrative-law judge in Washington threw out most of the FTC'S charges, but found that Amway was guilty of fixing prices. Amway officials contended that the practice had been discontinued in 1972. The judge's decision pleased neither Amway's nor the FTC'S lawyers, and both filed appeals. A ruling...
...some parts of the country, a real pinch could start as early as May 17. Gasoline dealers from 30 states met in St. Louis last week and resolved to try to organize a four-day shutdown, from Thursday through Sunday, in protest against federal price controls. Though the retail price of gasoline has risen 20% in the past few months, almost all of that has represented a simple pass-along of higher wholesale prices. Dealers have been permitted only two small increases in the gross margin of selling price over buying cost since 1973, and out of that they have...