Word: millions
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Dates: during 1970-1979
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...steel, utility, and other pollution-heavy industries figure that they will save 10% to 35% of their compliance costs. Du Pont predicts that the bubble policy will reduce annual pollution-control expenses at its 52 largest plants from $136 million to $55 million. Big companies have estimated that environmental control accounts for 77% of their federal regulatory costs...
...policy stands to free up much investment money for new plants, improved productivity and more jobs. Regulators and businessmen agree that giving managers more freedom of choice will motivate them to develop more efficient, economical methods of fighting pollution. Example: the old regulations required Armco to install about $15 million worth of pollution-control equipment at its steel plant in Middletown, Ohio. Under a pilot project for the bubble plan, the company chose instead to spend $4 million to pave parking lots, seed other areas and put in sprinklers that will suppress iron oxide dust. These measures are expected...
Gyllenhammar marvels that almost 11 million Americans have found jobs in the past three expansive years, but he worries that large legions are easily laid off when business turns down. It would be wiser, he argues, for companies not to hire so many people in good times and not to fire so many in bad times. Instead of dismissing them, perhaps the company could train them for other jobs, which they would get when business turned up again. Says he: "People take the punishment for your lack of planning. One wonders how these people react when they are hired...
What mainly had changed was that Hannon and his aides had just been accused of multimillion-dollar mismanagement. By Byrne's estimate, Hannon's administration had allowed the school's red ink to soar to $500 million, while claiming the deficit stood no higher than $43 million. "They sat there and lied to me," said Byrne, recalling a recent upbeat discussion of school finances with Hannon and his aides. "I don't think anybody with half a brain can mistake the difference between $43 million and $500 million." That was a puzzling claim, since Byrne herself...
...energy costs and time lags in getting reimbursements from state and federal governments (such government payments make up 60% of Chicago's $1.4 billion annual budget). Chicago's schools began to lose their delicate financial balance after plans unexpectedly fell through last month to borrow $124.6 million by selling financial notes to banks and other investors. Analysts at Moody's Investors Service, which rates the quality of investments like the school board notes, gave the notes only a low, "MIG-4" rating. Reason: the board planned to use some of the money to repay other borrowings, made...