Word: pretax
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...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 The 401(k)'s biggest break: contributions are taken from pretax income, with taxes deferred until the money is withdrawn.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...
Even before Black Monday struck, there were signs that Wall Street's five- year stay in Fat City was ending. Profits were shrinking: during the second quarter of 1987, U.S. brokerages generated $553 million in pretax income, in contrast to $2 billion in the first three months of the year. Retrenchment of some kind was already in the cards. Last week's crash guaranteed that it will be harsher than was previously expected...
...stations, ten daily newspapers, two magazines (Esquire and Redbook) and two book companies (Arbor House and William Morrow & Co.). Since the company remains privately owned, the balance sheet is a closely held secret. Industry observers calculate that Hearst's gross revenues last year totaled $1.9 billion, leaving an estimated pretax profit of $285 million...