Word: outlay
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...hungry Australia spends more than $250 million a year to import petroleum, an outlay that hardly pleases its export-minded government. Alarmed by this drain, Australia began subsidizing oil exploration six years ago, has since spent more than $45 million sending drill and rig out across its vast uncharted continent, often to the amazement of its aborigines and the terror of its kangaroos. More than 100 companies and syndicates now hold permits to look for oil in Australia. Such firms as Union Oil of California, Shell, Texaco, Delhi-Taylor and Kern County Land have so far drilled more than...
...space program. Not so, cries Astronaut Attorney Leo DeOrsey, 60, but "we felt that if it's distasteful to the boss, let's get out." So out they got, with each of the boys netting a tidy $6,000 profit on an initial $7,500 outlay. DeOrsey, who put up more than $50,000 at the start, was not saying how much he came away with...
...million on $749 million sales), and second only to New York City's Con Edison in generating capacity. P.G. & E.'s growth has been so phenomenal that the company will spend a record $255 million in 1964 on new power plants and transmission facilities. The 1964 outlay, announced last week, is only the first installment of a master plan that by 1980 will make P.G. & E. the nation's biggest utility in every respect...
...million from the $4.2 billion foreign aid authorization recommended by its Foreign Relations Committee, Kennedy asked: "Is this nation stating that it cannot afford an additional $600 million to help the developing nations of the world become strong and free-an amount less than this country's annual outlay for lipstick, face cream and chewing gum? Are we saying that we cannot help our 19 needy neighbors in Latin America with a greater effort than the Communist bloc is making in the single island of Cuba...
Some firms regard their reputation for providing a sustained yield as so valuable that they dig deep into their reserves when earnings are too low to cover the outlay. This is all right, says Harvard Business School Economist John Lintner, "when the earnings decline is pretty surely temporary. Management will be very often serving stockholders best by maintaining dividend payments and protecting the price of the stock." But some industries have persisted too long in this rearguard action-and steel is one of them. While earnings dropped year after year and the industry lagged in modernization, steelmen kept rewarding stockholders...