Word: investers
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Last week, however, the phoenix returned to ash, probably not to rise again. Owner Robert Weingarten, a former stockbroker and publisher of the investment journal Financial World, who had lost $3 million on SR since taking over in 1980, ordered a halt on the issues at the printers and dismissed the remaining two dozen members of an already reduced staff. His sad conclusion: SR was doomed without an unaffordable injection of at least $5 million for circulation and promotion. For months he had tried to merge with another magazine, to sell SR, or even to give it away. Potential buyers...
...dismal lows. In Kansas, where farmers have just harvested a record wheat crop of 440 million bu., grain is selling at a meager $3.65 per bu., down from $4.05 a year ago and from over $5 in 1973. In Oklahoma, where wheat is selling at $3.20 per bu., farmers invest nearly $6 to harvest each bushel. These are the mathematics of desperation. "The farmer's got his livelihood tied up in a crop he can't sell," said Mike Kubicek, executive director of the state's wheat commission. "He can't produce it for $6, sell...
Lately, sinking together has been a distinct possibility. In March, National Steel announced it was "not economically feasible" to modernize the marginally profitable (less than $10 million on 1981 sales of $1 billion) Weirton plant; the company prefers to invest in other enterprises with "the potential for substantially higher returns." By 1987 most of the factory would be shut down and 70% of the work force fired, unless, National Steel said, Weirton's 8,800 workers would like to buy the facility and run it themselves...
India is also encouraging foreign companies to make direct investments in the country. Japan's Suzuki Motor Co. is expected to pay $70 million for a 25% share in Maruti Udyog, a nationalized automobile company. Chevron International Oil Co. has agreed to invest at least $27 million in three exploration wells on India's continental shelf, an area that was formerly off limits to foreign companies. India currently meets about 55% of its oil needs from domestic production, and it hopes to boost that figure...
...dynasty: "In times of recession, we don't pull back." Even though Kohler has had to lay off 300 of its 6,000 workers because of slow sales of some products, the company is going ahead with its most ambitious capital spending program ever. This year Kohler will invest $50 million, more than 10% of its expected sales of $400 million. The plans include a big expansion of its factories in Brownwood, Texas...