Word: millions
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Dates: during 1960-1969
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...announcement, that prospect depressed stock prices among construction firms, computer-leasing companies, steelmakers and airlines which are in the midst of a costly modernization program. Some small and medium-sized firms may well choose to curtail their factory expansion. At General Motors, the tax credit amounted to $39 million last year, or nearly 4% of its profits. But G.M. does not plan to cut back on its $1.1 billion spending program (up 28% from last year...
Though Wolfson's personal fortune, once estimated at more than $75 million, has shriveled considerably, he still owns some $6,400,000 worth of Merritt-Chapman shares, a large horse-breeding farm near Ocala and an interest in a Jacksonville movie and television firm. Wolfson himself suffered a heart attack in 1966. His wife died last year of cancer. If both appeals fail, Wolfson still will have to serve a minimum of ten months...
...during April, in contrast with strong advances during several earlier months. Softwood lumber prices, for example, jumped by 61% in March, but have begun falling again. For the moment, however, high prices are hurting not only the consumer but the exporter. The U.S. balance of payments, which was $990 million in the black at the end of last year, is expected to show a large deficit for the first quarter of the year. The important trade balance may be in the red, partly because of the winter dock strike, but also because of the high cost of U.S. goods...
Louis Wolfson, who a decade ago controlled a $400 million industrial empire, accepted a painful verdict last week. Although a last-gasp technical appeal from a denial of a motion for a new trial is still pending in the case, the 57-year-old Miami Beach multimillionaire reported to Eglin Air Force Base near Pensacola, Fla., to begin serving a one-year prison sentence for illegally selling unregistered stock...
From their employees' viewpoint, the bosses of expanding corporate enterprises often disappear into the paperwork to become remote and impersonal figures of authority rather than flesh-and-blood leaders. Over the past dozen years, John M. Eckerd, 56, has created a Florida drugstore chain with $100 million a year in sales by taking the opposite approach. Eckerd gives zealous attention to the personal touch. "Employees make or break a business," he says. "They should be treated as individuals and not just parts of a wheel...