Word: profit
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Dates: during 1980-1989
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Presidential contests naturally overshadow the rest of a national election, but the top of the ticket does not necessarily control the fate of those farther down. The party of a re-elected presidential incumbent may profit richly from his hold on the electorate, as the Democrats did in 1964 under Lyndon B. Johnson. Or it can actually lose ground in Congress, as the Republicans did in 1956 under Dwight D. Eisenhower. In either case, races for Congress and Statehouses turn to a large extent on local issues and personalities, with plenty of help from money and mud. Last week, with...
American athletes struck gold at the Summer Olympics, but the real winner was the Los Angeles Olympic Organizing Committee, which put together the Games. The L.A.O.O.C. last week proudly announced that stronger than expected ticket sales had helped produce a $150 million surplus, ten times the $15 million profit forecast last fall even before a Soviet-led boycott threatened the success of the Games. Quipped Committee President Peter Ueberroth: "We only missed by a zero...
...which funds the 3800-acre Harvard Black Rock Forest in Cornwall, N.Y. Under a proposed sale agreement released last month. Harvard would sell the site--which was donated to the University by Dr. Ernest G. Stillman '08 in 1950--for $400,000 to a consortium of about 12 non-profit it educational and recreational institutions. In a fit of generosity, the University would offer the consortium a one-time donation of $50,000 once the deal is cut. But Harvard would end up walking away with $2.8 million while abandoning any obligation to cover the forest's yearly operating costs...
...best decisions, because very often we have to seek advice from as many people as we can. We don't know all the answers," he says. This process was evident most recently when the University considered a proposal from Professor of Biochemistry Mark Ptashne to set up a profit-making genetic engineering company within the University. After extensive consultations inside and outside Harvard, the idea was rejected...
...most stunning case of SEC enforcement occurred last month when the agency ordered California's Financial Corp. of America to restate its second-quarter results to show a $107.5 million loss instead of a $31.1 million profit. After customers realized the true state of the savings-and-loan company's finances, they began a temporary run on deposits. Disillusioned investors have driven the company's stock price down 17% since the announcement. During the same week the SEC charged Stauffer Chemical of Westport, Conn., with overstating its 1982 earnings by $31 million, allegedly by recording sales that...