Word: pretax
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...were goods really cheaper? In 1933 the average annual household income was $32 a week; in 1981 it was $497 a week. So while the latest-model Kenmore upright vacuum cleaner costs $99.95 now, compared with $17.45 then, it can be paid for with a day's work, pretax, whereas the 1933 Kenmore cost nearly three days' salary. The 1982 vacuum cleans better too. Some items even have lower price tags today. Sears does not sell a twelve-tube Superheterodyne console radio any longer, but at $52.95 it could hardly be a match for this year...
During the past decade, while United Press International reporters, photographers and editors have aggressively battled their rivals at the Associated Press, U.P.I, itself has been battling for survival. Since 1975 the news service has had reported pretax losses of $32 million. Last year it was put up for sale by its owner, the Cincinnati-based E.W. Scripps Co., which operates the Cincinnati Post and 50 other U.S. newspapers, plus six television and seven radio stations and six regional cable TV systems. Two serious bidders-the British news service Reuters and National Public Radio-failed to come to terms. Last week...
...biggest impact is on the corporate bottom line. Studies show that pretax earnings usually improve by at least 10% annually once CAD/CAM systems are installed. The devices can cost anywhere from $100,000 to $1 million, but generally pay for themselves within twelve to 18 months. Not only do they boost the productivity of engineers and designers, but they sharply reduce the amount of assembly parts that a manufacturer must stockpile. Just as a computerized office eliminates the need for closets full of forms, the CAD/CAM-equipped factory lets engineers "warehouse" inventory parts in the computer, and manufacture them...
...computer and genetic-engineering industries, companies actively raid each other's employment rolls. Says Art Young, corporate benefits manager of Hewlett Packard, the electronics firm: "Everyone's concerned about losing people." Hewlett Packard's answer is a program that puts 10% or so of its pretax profits into a long-term profit-sharing plan that pays out fully to workers only after they are on the job for 13 years...
...agree to gradual implementation of laborsaving technology, a new, fast-acting disputes procedure and a guarantee of uninterrupted production. When some unions balked at the compromise, Thomson suspended publication of both papers for eleven months during 1978 and 1979, a shutdown that cost the company some $82 million in pretax losses. A strike this year by the daily Times's journalists, their first ever, cost a further $ 1.4 million and is expected to bring 1980 pretax losses to $36 million. Meanwhile, rival Associated Newspapers Ltd. is blaming high production costs and continuing heavy losses for the demise last month...