Word: earner
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Dates: during 1980-1989
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...much cash with him. He does not have to. A small army of accountants, financial advisers, marketing experts and other support troops are employed to manage his money, his personal needs and his vastly lucrative image. Borg has not quite reached the dizzying heights of Arnold Palmer, the top earner in all of sport, who has made roughly $60 million in his career from golf and business ventures. "But he's getting closer," says Mark McCormack, founder and president of Cleveland-based International Management Group, which choreographs the schedules and handles the financial affairs of more than 400 athletes...
More ominously, black family income in the past decade actually fell relative to that of whites, from 60% of the white level in 1969 to 57% in 1979. One striking reason was that the proportion of white families containing more than one income earner climbed in that period from 53.6% to 55.4%, while the number of black families with more than a single wage earner fell from 57.2% to 46.2%. Black women who head their families had a 5.2% unemployment rate in 1969, but 12.9% were jobless in 1979, and the recession will certainly increase that figure considerably...
Most of these top earners worked in industries that did well despite the worsening economy, particularly in entertainment, energy and aerospace. MGM, where earnings rose 25% thanks in part to hotel and casino revenues and the profitable licensing of TV rights to Gone With the Wind, boasted two officers in the top 15 in addition to Rosenfelt: Executive Vice President Barrie Brunei ($2.5 million) and Board Director James Aljian ($1.8 million). Two of Mobil Corp.'s top executives were also in the millionaires' club: Chairman Rawleigh Warner Jr. ($4.3 million) and President William Tavoulareas ($2.3 million). The fourth...