Word: mllion
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Dates: during 1980-1989
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...merged with Congoleum-Nairn, a firm that makes tiles, wall decorations an other surface coverings. Inflation began taking a severe toll in the recession year of 1974. BIW's fixed-price contracts did not allow for rapidly rising costs, and losses mounted sharply. On top of a $10 mllion run of red ink, BIW lost major defense contracts in the early 1970s. I 1975 new management took over the company and brought in John F. Sullivan Jr., a former building-materials executive to head...
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