Word: annually
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Dates: during 1960-1969
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...fact is that the Egyptians need the earnings of the canal ($250 million a year) as much as other nations need the passageway. Egypt's economy is a shambles, and the war has gravely worsened it. The nation has a foreign debt of more than $1 billion, an annual trade deficit of $500 million, and more than half of its cotton crop-its principal export-is mortgaged to Communist-bloc nations to pay for past shipments of military hardware. Food is becoming increasingly scarce. The government long ago decreed three meatless days a week, has told Egyptians...
...Southwest, will have a deficit of more than $950,000 this year. Princeton President Robert Goheen worries about running into the red within three years; Stanford foresees a possible $2,000,000 shortage by 1969. Unless new sources of revenue are found, Yale will be faced with an annual operating deficit of more than $15 million...
...year, is one of the few U.S. railroads that earned money on that kind of traffic. Or accomplishing unlikely mergers: in a recent move that caught Wall Street by surprise, Heineman announced that for cash and stock exchanges totaling $367 million, the C. & N.W. was acquiring Essex Wire Corp. (annual sales: $375 million), a Fort Wayne, Ind. firm that makes wire, cable, switches and auto parts in 54 U.S. and Canadian plants. The railroad seems to be getting a bargain. Essex itself last week announced that it was acquiring Stevens Manufacturing Co. and Boyne Products, Inc., both of them small...
...naturalized optimist. Who else would have opened a dry goods store in devastated Atlanta, Ga., in the grim postwar year of 1867. Yet even Rich would be amazed to see how far his "M. Rich Dry Goods Store" has come. Last week, presiding over its centennial-year annual meeting, Grandson Richard H. Rich, 65, the present chairman and chief executive, ticked off statistics. Rich's last year rang up sales of $148 million for a 12.9% gain over the previous year (v. 3% for U.S. retailers in general) and showed earnings of $14,450,000. Return on equity...
...stoppage was a two-edged sword. With little else to sustain them, the Arabs rely on oil royalties and taxes for $2.5 billion in annual income. And the longer the shutdowns lasted, the more the Arabs were out of pocket. Saudi Arabia alone was estimated to be losing $2,000,000 every day the Arabian American Oil Co. was closed down...