Word: profitâ
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After Gulf & Western was blocked by the Justice Department from taking over Armour & Co., Charlie Bluhdorn attempted to resell his 750,000 shares to the meat packer for about $60 per share. He thought he had a deal?and an $18 million profit???but Armour Chairman William Wood Prince tried a squeeze play to drive the price down to $50. His method was ingenious. Armour made a public offer to repurchase 20% of its own outstanding shares at $50 each. If successful, the move would have increased Bluhdorn's stake in Armour from 9.8% to 12½%, thus making Gulf & Western...
...cost basis. For each & every government agency a printing appropriation is made by Congress which is paid to G. P. O. for work done. In fiscal 1932 G. P. O. did $14,323,524 worth of business. The year before it showed (by mistake) a ? of 1% profit???$18,674. The 1933 appropriation for Congressional printing is $2,250,000. Of this sum between $600,000 and $700,000 will be used to get out the Congressional Record. The balance will go for the publication of committee hearings and reports, bills introduced, public documents ordered by Congress, directories...
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