Word: net
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Dates: during 1940-1949
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...Black Future. For the job of running his company, Donald Douglas collects $120,000 salary a year, which he spends sparingly. Dividend-wise, the returns have not been rich, although the company has not lost a dime since it started. The best year was 1941, when net profits were a fat $18,177,000 after taxes on its gross...
After the company wound up its foreign orders in 1942, the net profits dropped sharply to $11,055,000. This year they will be still lower, with the percentage of profit to gross, which was a firm 8% in 1938, now dropping below 3%. Compared to a 1938 net profit of $2,147,000, these figures are high. But despite its present position with an annual business of $1,000,000,000 and a backlog of over $2,500,000,000 (fourth largest of any U.S. company), the company had been able to pile up only...
...warfare, which in October went swimmingly for the Allies, sinkingly for the Nazis. U-boats were out in force. They not only failed to press home their attacks but were sunk in large numbers, as planes from U.S. "baby flattops" (converted merchantmen) pounded them silly. Allied production, plus a net gain of 170,000 tons of Italian shipping, put the Allies far in the black...
Result: C. N. Publications' net for 1943's first nine months was $1,524,039 (before taxes). Only in bottom depression years has C. N. dipped into the red. And biggest profitmakers are Vogue (usually fat with flossy ads) and the Vogue patterns ("regulars" from 30? to 75?, "specials" at 75?, "couturiers...
...renegotiation-though a few big giants took whopping reserves in advance of trouble. Most startling example: General Motors, which set aside a $20.7 million renegotiation reserve for the third quarter, despite having already voluntarily kicked back about $57 million in price reductions, still came through with a $40.1 million net income, 10% above last year...