Word: net
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Dates: during 1940-1949
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Although the steel industry had been Gloomy Gussing for weeks as its production rate sagged and its backlog of orders thinned, first-half earnings for many companies were the best in history. U.S. Steel's $94 million net was up 76%, Bethlehem's $59.9 million a shade less than 100%. But Bethlehem's Chairman Eugene G. Grace, who first warned against slackening steel demand six months ago, now said: "We have been living on our accumulated fat ... and it is getting thin...
...both countries chose to fasten on the only exception, Bob Falkenburg. They magnified the regrettable incident in which he was booed by a small section of the crowd and printed his statement that the Wimbledon crowd is anti-American. It is enough to make a confirmed fan gnaw the net. The Wimbledon crowd is not anti-anybody. They queue for hours to study tennis and personalities, in that order. And they ask not if you won or lost, but how you played the game...
Rebel Baldwin gathered his supporters downstairs on the porch, getting minute-by-minute reports from the packed meeting room. Just before Irving rose to read his financial report (it would have shown, Irving explained later, that the local's net worth was a handsome $204,000), Baldwin's boys rushed upstairs. In the stifling room, bedlam broke loose. Men seized chairs, smashed them over the heads of their opponents. Knives flashed. One member leaped to protect Irving, was deeply slashed for his pains. Before the police arrived, 25 men had been...
...they still looked healthy. The General Electric Co., which had been among the first big companies to cut prices and had already felt the sales slump in household appliances, was possibly a bellwether of how good "normal" might be. G.E.'s President Charles Wilson reported a second-quarter net of $19.8 million, down 32% from the same 1948 period. However, profit was more than 100% above G.E.'s earnings of ten years ago. By such a prewar comparison, the current "recession" looked fairly prosperous...
...cabinets out of plastic in one piece (TIME, May 16), he was able to step up output and make some handsome price cuts. Last week it looked as though Siragusa's answer was right. Admiral Corp. had a second-quarter profit of $1.6 million, 129% more than its net for the same 1948 period...