Word: millions
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Dates: during 1960-1969
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...five Northeast shares, which traded at a total of almost $70 just before the announcement. Individual shareholders in Northeast will take a drubbing, and they have started to organize and protest; but even at the fire-sale price, Storer will get out with a profit. It has put $35 million into Northeast, and will receive Northwest stock currently worth around $38 million, plus a Northwest promise to repay with interest a $10 million Storer loan to Northeast...
...Moscow. A vital element in advanced technology, nickel provides the strength and heat resistance needed for alloys used in jet engines and nuclear reactors. The noncorroding quality that it gives to stainless steel also makes nickel indispensable in spacecraft and SST airliners. The non-Communist world uses 830 million pounds of nickel yearly, and the total has been growing by 10% a year...
...question is what Northwest, which is the most profitable of the eleven U.S. trunk lines, wants with the money-losing carrier. St. Paul-based Northwest has earned more than $50 million in each of the past three years, flying high on routes that link the U.S. East and West coasts with the Orient. Boston-based Northeast is an odd amalgam of New England regional service, commuter runs to New York and Washington and vacation routes to Florida, Bermuda and the Bahamas. Its services to the South attract heavy traffic in the winter months, and little but heavy expenses the rest...
...couple of reasons for the merger are that Northwest President Donald Nyrop, a first-class administrator who was once chairman of the Civil Aeronautics Board, will pick up Northeast's jets for a bargain price and get a tax-loss carry forward estimated at $17 million for his company. Northwest, which earns most of its profits in the spring and summer, also could use Northeast's cold weather vacation traffic. In addition, Northeast's new Miami-Los Angeles run will tie in neatly with Northwest's newly granted routes to Hawaii and Japan...
...Search Goes On. Even before the Canadian strike, supplies of nickel were short. Inco, whose executives concede that production has not kept up with demand, is now spending about $150 million annually to increase its Canadian output from last year's 450 million pounds to 600 million in 1972. This capital outlay is larger than the $144 million that Inco earned after taxes on its sales of $767 million last year...