Word: deficits
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Dates: during 1950-1959
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...Italian government refused import permits except for newsprint bought through normal channels, thus made the Communists pay out their cash for their supplies. As a result L'Unita alone loses more than half a cent for every copy it prints, has piled up a whopping $5,000,000 deficit over the last few years...
Even ICC members and railroaders agree that both formula and figures are far out of line. Fortnight ago Northwestern University's Transportation Professor Stanley Berge published a study that flatly calls the passenger loss "a phantom deficit." According to Berge, the deficit "for the most part consists of costs which could not be avoided" even if the rails carried no passengers at all. The rails' $153,000-a-mile capital investments in bridges, yards, rails, for example, is needed for the freight traffic that accounts for 87% of the roads' revenue. Eliminating passenger traffic would therefore...
...more realistic formula for measuring passenger-traffic profit and loss, Berge suggests using actual out-of-pocket costs, i.e., subtracting from total passenger revenues only those costs directly connected with maintaining passenger traffic. On this basis the ICC's $4.8 billion passenger deficit between 1947 and 1954 would turn into a $486 million profit. Taking the most recent years, during which passenger revenues dropped, Berge found only a $1,000,000 loss in 1953 v. a $705 million ICC deficit, a $38 million loss in 1954 v. a claimed $670 million deficit...
...Congress. Of that amount, $1.2 billion in surplus food, tobacco and cotton was either sold, bartered (for precious minerals and other materials), or given outright to the needy during the first six months of 1956. Overall, the U.S. lost money in the disposal, from 1) a $1.3 billion deficit on the actual sales and donations, 2) the exchange of surpluses for foreign currency, most of which was dispensed again in foreign aid. While the President was on the subject, he added his hope that Congress would double the $1.5 billion ceiling on foreign-currency transactions, also permit...
...Viscounts had a break-even load factor of 56.8%, almost 10% better than its piston-engined Constellations. Total operating costs are $1.57 per mile v. $2.16 for the Connies. But the initial costs of getting the new Viscounts into service actually cost Capital a $1,300,000 deficit in 1956's first quarter, will probably hold down profits this year, even though operating revenues were up to $11.9 million for an overall 13% jump over...