Merchandising: The Business of Giving

While his wife got started on the family Christmas shopping last week, many an executive scanned a lengthy gift list of his own. Corporate gift giving to contacts and customers, out of favor in recent years after "payola" worked its way into the business lexicon, has been revived by prosperity, the passage of time, and a 1963 Internal Revenue ruling that allows business deductions for gifts of no more than $25 in value. This year, company Christmas purchases are expected to rise 9% and account for the largest part of the $325...

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