Word: nets
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Dates: during 1960-1969
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SPECTRUM (NET, 8-8:30 p.m.).* "The Alcoholic American" looks at why people drink heavily, how it affects their lives, and what types of treatment are available...
McKee's executives were flabbergasted. When the company bought a 94% interest in CTIP three years ago-for $1.5 million in stock and cash-the Italian firm was in shaky condition as a result of an unprofitable project in Egypt. Since then CTIP's net worth has risen 450%, to $5,000,000. It has won important new business in Latin America, Spain and Scandinavia, and added Gulf and British Petroleum as major clients...
Maybe so, but those sins are yielding notably handsome wages for banks. Reports last week of banks' first-half earnings emphasize that, whatever else they accomplish, high interest rates produce high profits. Compared with the first half of 1968, net operating earnings at Manhattan's Manufacturers Hanover Corp., parent of the fourth biggest bank in the nation, rose 21% to $40 million...
Bankers 'are quick to say that the net operating earnings they report are not quite the same as ordinary corporate earnings. "N.O.E." include profits from lending but do not include defaulted loans or losses on securities investments, which most banks have suffered this year. Under any circumstances, N.O.E. figures are somewhat misleading; they tend to overstate profits during times when securities markets are falling-and understate profits when markets are rising. As a result, accounting groups are urging banks to report straight net income as corporations do. Whether they do or not, bank operating earnings are likely to remain...
Laver's serve is as unique as it is effective. The man is not physically impressive, but his forearms are massive. On every service the ball rises high over the net, then plunges at an opponent's feet with the speed and dip of a major league sinker. A refined, almost inherent ability to put drastic topspin on his volleys make Laver's returns tortuous to handle, and even when he is caught out of position, and uncanny sixth sense can often keep him out of danger...