Close Competition

In Tucson, Ariz. (pop. 50,000), the names Steinfeld's and Jacome's are like Macy's and Gimbels in Manhattan. They are Tucson's oldest department stores, and they are red-hot competitors.

Last week Jacome's announced that it would move into a new $1,000,000 store to be built right across the street from Steinfeld's. The builder of Jacome's new store: none other than arch-competitor Steinfeld's, which owns the property, and will lease the new building to Jacome's.

Explained Steinfeld's President Harold Steinfeld: "I think it is good business judgment on the part of both parties and should set a new high standard of clean, unselfish business...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!