Word: marketed
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Dates: during 1960-1969
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Prosperity at home is still running high, and unemployment is a negligible 1.4% of the work force. But this is part of the trouble. Manufacturers find it all too easy to sell to the domestic market. When it comes to competing abroad, noted The Economist, "the British nowadays have an old fogy's habit of treating the sometimes brash, brassy and rather fanatical export drives of some of their main competitors as a superior sort of a joke...
...first seemed in the embarrassing position of giving a windfall to Dominican Republic Dictator Rafael Leonidas Trujillo. Under the law, Cuba's canceled quota was to be split among other traditional foreign suppliers to the U.S. Trujillo's normal 111,157-ton share of the U.S. market promised to grow by more than 200%, giving an extra $29 million to the Dominican sugar industry, which Trujillo virtually owns. Last week the U.S. found a way to cancel Trujillo's bonanza...
Under this plan, much of the canceled Cuban allotment went to Mexico (whose share of the U.S. market climbed from 95,000 tons to 345,940 tons) and Brazil (up from no share of the U.S. market to 100,347 tons). Both nations were overjoyed at the prospect but did not want to say so aloud, since many of their workers and peasants still consider Castro a bearded Robin Hood, boldly defying the U.S. Mexico's official rationalization is that Mexico, after all, began asking for an increased sugar quota long before the Cuba-U.S. crisis began...
...London, without objection from the U.S. delegate, the International Sugar Council met last week to rejigger world export quotas in Cuba's favor to make up for the loss of the U.S. market. The council authorized other nations, including Soviet Russia, to increase their purchases by 1.250.000 tons. In effect, the new quotas will keep Cuban sugar exports (and employment of Cuban sugar workers) near normal, though Cuba will still lose the extra $150 million the U.S. previously paid above world prices. The council's fast reshuffling of trade discouraged buyers' hopes that unallotted quotas would depress...
...Market optimists who have been awaiting the "traditional" summer rise took it on the chin last week. For the second week in a row, each day the market closed lower than the day before, at Friday's closing was down 20.37 on the Dow-Jones industrial average to 609.87-the biggest weekly drop since March, and only eleven points above the year's low. The New York Times combined average of 501 stocks hit its worst point since November 1958. But there was no rush to sell. Volume averaged a thin 2,500,000 shares daily...