Word: pretax
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...their Phillips stock rise from less than $40 when the battle began to the mid-50s in December and close last week at 49 3/ 8. The clearest winners were the raiders. Centimillionaires already, they became richer still. Pickens and his partners walked away with an $89 million pretax profit, while Icahn will gain at least $50 million for 30 days of high- pressure maneuvering. Said he: "I'm happy the shareholders benefited. But I'm no Robin Hood. I enjoy making the money...
...problem Janeway does not face is a lack of resources: the Globe's parent company has made a pretax profit of $40 million for the first nine months of 1984. He recognizes the paper's complex and imperfect character. "I want to nourish the traditions of individuality and crusading," he says, "but I may put greater emphasis on other flags we salute, such as consistency and keeping opinion out of the news columns." Adds Winship modestly: "Mike may be better at keeping the paper steady than...
When U.S. Surgical Corp. of Norwalk, Conn., piled up pretax profits of $32.9 million between 1979 and 1981, its top officers gave themselves rich rewards. The bosses enjoyed their bounty until earlier this year, when the Securities and Exchange Commission ordered the bonuses paid back. President Leon C. Hirsch, for one, agreed to relinquish $317,000. A probe of U.S. Surgical's books, the SEC claimed, had discovered that the company padded its 1979-81 profits by more than $18 million...
...state ownership had sapped the initiative of many of Britain's largest and best-known companies. So within months after coming to power in 1979, Thatcher and her Conservative Party took steps to sell the assets of numerous firms to private investors. About half of Britoil (1983 pretax profits: $762 million) is now in private hands, as is all of the Jaguar automobile division of BL, formerly British Leyland...
...cost program guides, would be ready to buy the information-packed, four-color magazine, which retailed at $2.95 a month. The expectations were wrong: Time Inc. announced last week that TV-CABLE WEEK was far behind its circulation targets, and will close with the Sept. 25 issue. Estimated pretax losses: $47 million, almost half of the $100 million that the company had planned to lay out during a four-to five-year startup. Said Time Inc. Editor in Chief Henry Grunwald and President J. Richard Munro: "We were prepared to spend more-if the prospects had warranted...