Word: alcoa
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Dates: during 1980-1989
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...CoCom to halt technology exports to the Soviet Union. But while the U.S. Government has stopped trade by some American companies, foreign firms have sometimes flouted U.S. policy. The French, for example, signed a contract last September to build the steel factory that Armco could not. And after Alcoa was forbidden last year to construct a Soviet aluminum smelter, a West German firm went ahead with the project...
When using inflation accounting, other large companies show smaller profits, if not outright losses. Exxon's income dips $560 million to slightly more than $5 billion; Alcoa's plunges from $470 million to $ 144 million. Robert Hampton III, a Price Waterhouse senior partner, says that a survey of 83 companies using inflation accounting last year showed that real profits were about 40% less than those reported on the normal balance sheet. Another survey, by Arthur Young & Co., revealed after adjustments for inflation that airlines, railroads and tire and rubber companies actually lost money. High-technology companies like...