Word: pretax
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...raises the unanswerable question of just how much inequality is necessary to provide incentive. A significant effort to redistribute income would provoke fierce resistance from politically powerful groups that rank statistically in the upper classes but do not consider themselves at all rich (in the U.S. a $30,000 pretax annual income puts a family into the top 5%, a $15,000 income...
...stocks in the Dow Jones industrials are up 30% so far this year, and even long-suffering mutual funds are doing nicely. Once again, brokers are making money. Figures to be released soon by the New York Stock Exchange will probably show that its 425 member firms earned pretax profits of around $300 million through March, a record for any quarter. By comparison, Big Board member firms earned a mere $45.8 million during all of last year and lost $49 million...
...last year, to $950 million, and GM's board voted to reduce the quarterly dividend from 850 to 600. Ford reported profits down 60% in 1974, to $361 million. Thanks to some tax credits, Ford can show a $22 million profit in the fourth quarter; but on a pretax basis the company lost $46 million. Many Wall Street analysts expect the company to report more big losses for the first few months of this year. American Motors managed to clear $13 million in 1974, but that was down 84% from 1973, and AMC spokesmen warn that the next...
...immediately after taking over, he replaced a centralized management structure with four semiautonomous divisions, each of which is responsible for its own profits. He also expanded production of trucks, marine and industrial engines and other products to a point where they account for 43% of Volvo's sales. Pretax profits reached $90 million during the first half of this year, despite a 19% decline in U.S. sales of Volvo cars...
...take ten years to recover." After some lean years, both papers look forward to the added profits that automation may bring. The Times has specific reasons to hope. In the first six months of this year, its string of eleven automated papers in Florida and North Carolina showed pretax profit margins averaging 26.6%, while the nonautomated Times itself returned only...