Word: pretax
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Dates: during 1980-1989
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...months advertising giant Saatchi & Saatchi has admitted that it was enduring a rough year. But when chairman Maurice Saatchi faced investment analysts in the company's luxurious London boardroom two weeks ago, the news was far worse than anyone had feared. After 19 years of uninterrupted growth, Saatchi's pretax profits for 1989 collapsed, dropping from $217 million last year to just $34 million, an 84% decline. After taxes and other provisions were deducted, the world's largest advertising firm reported its first net loss, of $92 million...
...risk, he argues that "launching the Sun is likely to turn out on an investment basis to be the best deal we've ever made. For the same amount of money, I could buy something boring that I've done umpteen times over that has the potential to earn, pretax, perhaps $2 million. The Sun has the potential to earn 15 times that. So from a risk-reward viewpoint -- which isn't why I did it -- it makes sense. From a creative viewpoint, it has a lot to do with how our newspapers will operate...
...bought 39 marketing and advertising firms so far. His most stunning triumph was the 1987 purchase of the JWT Group, an American conglomerate seven times the size of WPP. The $566 million deal was the first hostile takeover in the U.S. ad industry. Under WPP's control, JWT's pretax profit margin has increased from a weak 5% of sales to a respectable...
...mainly by the failure of subcontractors to deliver the planes' avionics systems on schedule. Grumman's 1987 profits dropped 55%, to $36 million. Now the company faces a new problem: Carlucci intends to end funding for Grumman's A6 Navy bomber, which accounted for 15% of last year's pretax profits. "If any company in defense is vulnerable, it is Grumman," says Paul Nisbet, an industry analyst with the Prudential-Bache investment firm...
...companies for their workers. An employee may contribute as much as 20% of his salary to the plan, up to a maximum of $7,313 a year. IRA contributions are limited to $2,000 a year. The 401(k)'s biggest break: contributions are taken from pretax income, with taxes deferred until the money is withdrawn. For most single taxpayers earning more than $25,000 and married couples with incomes in excess of $40,000, IRA contributions are made with after-tax income. Another appeal of the 401(k) is that the accumulated earnings grow tax free, as they...