Word: pretax
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...Sullivan, 42, owner of Sullivan Hardware shops in the Indianapolis area, is surrounded by Lowe's outlets and a Home Depot. But he steadily increases revenues 6% to 8% a year, and he books pretax margins of about 10% on $5 million in annual sales. "I'm a speck to the chains," he says, "but I do well." Over the years, he adapted his merchandise mix and pricing to cope with the big-box stores. He knows he'll never beat Home Depot and Lowe's on prices for $100-plus power tools, so he stocks a minimal quantity. Instead...
...When employees figure out that they'll lose any pretax money they set aside but don't spend, most simply move on. Who needs to roll the dice on something so unknowable as how often you'll get sick next year? And it's a slap in the face that your employer gets to keep the leftovers. We're not talking big bucks - roughly $20 a year goes unused in the typical health-care or dependent-care FSA. The real crime is that eligible workers grossly underuse FSAS out of fear that they will overguesstimate expenses. Drop...
...report "Summer Of Mistrust," on the public's lack of confidence in U.S. corporations [NATION, July 22], incorrectly said that $2 billion had disappeared from Xerox's revenues. We should have said Xerox overstated its pretax income by $1.4 billion over the past five years...
...fears driving away air travelers and costing the industry more than $9 billion. Continental was one of only two major airlines earning a profit before Sept. 11 (the other was Southwest Airlines), and Continental in March became the first traditional hub-and-spoke carrier to report a return to pretax profit. Alas, the bottom line turned red again in April, and Bethune predicts more rough weather ahead if the majors don't "wise up"--that is, stop adding seats and start raising fares. "It's a challenging business, which some of us thrive on," says Bethune. "I mean...
...Workers will also be allowed to receive investment advice from the same companies that manage their 401(k) retirement accounts. Democrats oppose that idea, saying conflicts of interest would be likely. The final bill also will include a proposal to let workers pay for their own investment advice with pretax dollars automatically deducted from their paychecks...