Word: pretax
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Dates: during 1958-1958
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...take advantage of the tax losses, they began looking for another company with healthy earnings, decided on the family-owned Seeburg Corp., which had annual pretax earnings averaging $2,000,000. The family wanted to sell for $8,000,000 in cash, $2,000,000 in five-year notes. All but $3,300,000, could be covered by Seeburg's liquid assets-but how to raise that? Despite a tight money squeeze, they succeeded in borrowing it, partly from the Seeburgs themselves...
...been a top food and foreign-trade adviser to Presidents Roosevelt, Truman and Eisenhower. His successor, Mortimer, was chairman of the star-studded Advertising Council from 1947 to 1950, headed the United Community Campaign fund last year. Under him, each General Foods' sales dollar has brought a pretax profit of 10? v. 7? for its chief competitor, Standard Brands (Chase & Sanborn coffee. Royal Gelatin, etc.), and General Foods' stock has risen from $30 in 1954 to $57 last week...