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 competition." Said Jacome's President Alex Jacome, who was getting one of the best sites in town: "It couldn't happen anywhere but Tucson."