Word: supermarketing
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...still relatively small compared to the $90 billion worth of American properties abroad, but the gap is slowly narrowing. Foreigners last year invested a record $1 billion in buying and building businesses in the U.S., and this year the country seems to have been turned into a giant supermarket, with foreign buyers rushing in to buy corporations off the shelves. Notes Investment Banker Raphael W. Hodgson, vice president of Goldman, Sachs: "Last month there were seven tender offers for U.S. companies from England alone, and there is no reason why there will not be seven more this month...
Since January, U.S. consumer prices have spiraled upward at an annual rate of 9.2%, their worst rise in more than two decades (TIME cover, June 18). The increases were even greater in the supermarket, where prices have been inflating at an annual rate of 25% or more -and worse was ahead...
Farm workers are not covered by the National Labor Relations Act, and Chavez does not especially want them to be, because that act forbids secondary boycotts-such as one directed against all the products of a supermarket that stocks non-U.F.W. grapes...
...they will soon force prices down at the wholesale and farm levels. Later, going even further than he had in Phase II, the President also put all wages for food-industry workers under control of the Cost of Living Council. The COLC will have to approve all increases for supermarket clerks, packinghouse workers, and meatcutters in the nation. To expand supplies, the President will ask Congress for authority to suspend tariffs on imports of those commodities-like meat-that are rising fast in price...
...Cambridge supermarket came under fire this week for allegedly selling lettuce which was not picked by UFW members under the United Farm Workers' Union (UFW) label...