Word: pretax
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...other respects, Edwardes would seem to be taking over at the worst possible time. Leyland's share of the British auto market has dropped to just over 20% currently, from 27.5% in 1976. Though Leyland's truck and bus operations are still profitable, auto losses pared companywide pretax profits to less than $23 million in the first half of 1977 (on sales of $2.4 billion), from almost $97 million a year earlier on slightly smaller sales. And those figures mask a serious cash shortage; in July, Leyland had to borrow 5180 million from the government's National...
Most of the Bethlehem losses stemmed from $750 million in pretax charges caused by the company's moves to cut production capacity by 10%. Most important: a $483 million write-off to cover pension and benefit payments to 12,000 workers put out of jobs...
Carter is most likely to accept a recommendation that only half the price of a business meal may be treated as a legitimate expense and thus deducted from a company's pretax income. And that is the least drastic of three alternatives he is considering. Another is to set a limit on deductions of $15 a person per meal...
...campers, trailers and motor homes. Last year Midas reported $225 million in sales, a 39% increase, to its corporate parent, IC Industries, Inc., the company that owns the Illinois Central Gulf Railroad. Midas' earnings are not reported separately, but analysts guess they may be about $23 million annually, pretax. Midas President Ralph Weiger, 52, will not confirm that, but he does say dollar earnings in 1976 were five times as large as two years earlier...
...dailies are chain-owned, a percentage that has been climbing steadily. But many publishing dynasties are running out of heirs, and recent estate tax-law changes have made it less lucrative to keep it all in the family. Beyond all that, newspapers themselves are making financial headlines. Industry pretax profits were up as much as 70% last year, from 1975's depressed levels, and another, though smaller gain is expected this year. Nationwide average daily circulation last year edged upward to 60,800,000, the first increase in three years, and advertising revenues exceeded $10 billion, a gain...