Word: pretax
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Dates: during 1970-1979
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...employee-owned company, Republic Hose Manufacturing Corp., took over the one-story plant, productivity is up 40%, and the rate of rejected products has dropped from 8% to 1%. The firm, which today employs 130, estimates that for its first complete fiscal year it will earn a pretax profit of up to $600,000 on revenues of $7 million; that is less than the approximately $12 million in revenues of Aeroquip's final year but at least double the new owners' initial projections...
...been able to finance its growth internally. In 1976 the company had no employees other than the two founders and $200,000 in sales; by 1978 the payroll was up to 150 and sales totaled $17.5 million. This year the company, which is privately held but admits to pretax earnings equal to about 20% of sales, expects to be doing $75 million in business with 400 employees...
...Times newspapers put their pretax losses at better than $60 million but insisted that the lockout was the only way to ensure the future of the two publications. If the papers do survive, said Lord Thomson of Fleet, chairman of the parent company, "the cost staff-wise, money-wise and frustration-wise will have been worth it." As for Fleet Street's reaction, Times executives dismissed it as sniping by envious competitors. Said one Timesman: "They're in a position of being overmanned and using 19th century technology, and they see a slimmed-down Times striding into...
...third-place NBC, and for Silverman in particular, the outcome may be crucial. The Tonight show is reported to bring in 17% of the network's pretax earnings, and it is a special prize for the affiliates, which can sell 50 minutes of local commercials on the show each week, compared with only 33 minutes for all of a week's prime time. If Carson, NBC'S top star, jumps to another network, presumably first-place ABC, more of NBC'S affiliates may abandon Silverman's leaky ship...
McLaughlin is one of those far-reaching business chiefs who think about a lot more than balance sheets. He is a big gun in the country's most socially aware and alert business community. Prodded by McLaughlin and others, 45 Minneapolis-area companies donate 5% of pretax profits to charity and are active in all manner of civic uplift projects. And so it is not surprising that McLaughlin is concerned much less about snow than about something more universal: water...