Word: nets
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Dates: during 1940-1949
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After a month of rummaging through statistics, Federal Housing Expediter Tighe E. Woods was ready to explain what he thought Congress had in mind for the nation's tenants and landlords. To assure landlords a "fair net operating income" under the new rent-control law, said Woods, his area rent offices will take a look at the books of every house and apartment owner who feels that he should get more rent. Their requests will be screened through a new formula...
Owners of small structures (four dwelling units or less) whose net operating income from rents is less than 25% of their total yearly take will be allowed to boost their return to 30%. Example: A landlord takes in $1,000 a year in rents, spends $800 of it for labor, taxes, fuel, depreciation, etc. His profit is $200, so the Government will let him boost his rent enough to raise his profit from 20 to 30%. He will be allowed to raise his gross rents to $1,143, for a profit of $343. Owners of larger structures will be allowed...
High Light. The U.S. electric utility industry reported that its first-quarter profits had broken all records. With earnings in from nearly all major companies, net profits were estimated at $202 million, thanks partially to higher rates and lower fuel costs. Previous high mark: $196 million, in the first quarter...
Down & Up. In a big week, Packard Motor Car Co. cut prices 4½% to 8½% on six models and reported a net income of $3,911,033 for the first quarter of 1949, three times its net for the same quarter last year. The auto price cuts nipped from $26 to $194 off list prices. Furthermore, equipment formerly extra will be included in list prices, so Packard figured that the reductions will actually be from $103 to $246. Prices of a few models in Packard's super line were raised...
...steel industry was not far behind-U.S. Steel turned in a net of $49.9 million, UP 79% from the 1948 quarter. It also showed the best profit since 1929. Bethlehem Steel's $33.1 million represented a whopping 114% gain, and other companies did nearly as well, thanks to maximum production and a drop in the cost of some raw materials...