The Economy: Dividends from the Drop

"We don't like recessions," says Francis Rooney, president of Melville Shoe Corp., "but we also know how much they help our business." This spring Rooney's company, which sells a low-price line through its Thom McAn and Meldisco divisions, was helped to a 20% increase in sales over the same period in 1969. Rooney's case is not unusual. Adversity has always smiled on a lucky few, and the present economic downturn that is bringing travail to many companies is pure serendipity for others.

Growing bands of consumers in search of bargains are pushing up...

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!