Word: profit
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Dates: during 1980-1989
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...major incentives to incoming faculty. Most professors prefer to live in Watertown or Newton already and have no desire to move their families to Cambridge. If anything, the only incentive is to purchase these rundown structures, perform expensive reconstructions, and resell them a few years later for a fat profit...
...cable to the Pentagon last week, Lockheed President Lawrence Kitchen insisted that his company had made only a 13.4% profit on the units. Nevertheless, he eventually lowered the price of the covers to $100 apiece and gave the DOD a $29,165 refund. "This action is intended to put to rest an artificial issue," said Kitchen, "that detracts from the critically important ongoing review of the 1986 DOD budget." Senator Roth, on the other hand, might have felt he was getting to the bottom of the whole defense- spending issue...
...loan Cross had acquired carried an adjustable interest rate, fluctuating from 12% to 13%. He also got another loan, this time from the Small Business Administration. Yearly crop planning loans added to his indebtedness. Much of his small profit went to meeting his interest obligations. "When you have to pay tens of thousands of dollars a year in interest, you can't pay the principal...
...Administration bill is eventually supposed to slash Government spending on farm-income support to some $3.5 billion to $5 billion a year from the present $15 billion. Some farmers would probably go broke with that little Government help, but the Agriculture Department contends that those who survive will eventually profit by growing and selling more to the world at competitive prices...
...comparison, Conrail has made a full-throttle recovery. Formed in 1976 from the bankrupt Penn Central and six other failed lines, the Consolidated Rail Corporation cost the Government about $7 billion before it began turning a profit in 1981. The line earned an estimated $500 million in 1984, up from $313 million in 1983. To reach that goal, Conrail cut its work force from 100,000 to 39,000, trimmed track mileage from 17,500 to 14,000 and turned over passenger lines to state authorities in New York, New Jersey, Connecticut and Pennsylvania. The company won major concessions from...