Word: pretax
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Dates: during 1970-1979
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...shape the public's perception of the $6.6 billion conglomerate (electronics, vehicle renting, communications, food processing, records). So far, despite NBC's long stay in the ratings cellar, the stockholders have shown restraint, probably because in the TV business even last-place networks do very nicely. Although pretax profits dropped 20% last year, NBC still earned $122.1 million...
...been a prodigious profit cow for RCA in recent years, regularly furnishing about one-quarter of pretax earnings and in 1975 supplying 31%. But the milk was growing watery. By the end of 1978, NBC's pretax profit contribution dropped to 17.6%, less than two other RCA divisions. So Griffiths-"Bottom Line Ed," as he is known at RCA-went out and hired "the man with the golden gut," Fred Silverman...
...inflation. The reason: the U.S. economy is showing such unexpected strength that the recession predicted for this year by many economists may not occur until later. Presidential aides cited figures indicating that the economy grew at a robust annual rate of 6.9% in the final quarter of last year, pretax corporate earnings soared at an annual rate of 26.4% over the year before, and unemployment dropped to 5.7%, its lowest level in 4½ years. All that normally good news suggested an economy growing too fast to thwart inflation...
...Commerce Department's preliminary figures for corporate profits in the final three months of 1978 seemed to suggest that pretax earnings had risen at an annual rate of more than 26%. Other calculations put the rise even higher. The reports of these large gains coincided with news that the Consumer Price Index in February had jumped at an annual rate of 15.4%, the worst rise in 4½ years. The result: an avalanche of criticism that business must be doing something nefarious to make so much and that the White House was failing to enforce price guidelines...
There were wildly differing figures being bandied about on just how fast profits have risen, in part because the Commerce Department study can be read in different ways. Annual pretax profits for the last quarter of 1978, when adjusted for the impact of inflation on depreciation and inventories, came to $177 billion. That was a compounded rise of 44% on an annual basis over the third quarter and 19.4% over the fourth quarter of 1977. Pretax profits, without inflation adjustments, rose 26.4% compared with a year earlier...