A Letter From The Publisher: Jul. 6, 1962

TIME Correspondent Murray Gart, who did most of the reporting on this week's cover story, wound up convinced that discounting is here to stay, and that Eugene Ferkauf of Korvette's is the most artful practitioner. He followed Ferkauf around for days, on his quick marches through his stores, with breaks only at stand-up lunch counters for a hot dog or a quick cup of coffee. Ferkauf was determined to give him an intense course in the theory and practice of discounting; and because of Ferkauf's relaxed way of operating, Gart soon found himself drawn into giving opinions. At one point,...

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