Word: profit
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Dates: during 1980-1989
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...educational system needs bolstering. But before additional federal funds are committed, the money now available should be redirected. Nearly $2 billion a year could be saved by collecting on defaulted student loans and reducing aid to those who enroll in for-profit trade schools. That money could be funneled to literacy programs in junior and senior high schools in educationally disadvantaged areas...
Most inmates of the state penitentiary in Parchman, Miss., are run-of-the- mill, old-style cons. But a few may have switched to high-tech crime, diverting prison products for profit. When a trailerload of cotton rolled out of the pen, its weight seemed in good order on the institution's computer records. Yet two weeks ago it was discovered that when the cotton arrived at a nearby gin, it was light by more than 90,000 lbs. The missing cotton, worth $20,000, seems to have been shipped elsewhere...
Hernandez has plenty of company. Last week Secretary of Education William Bennett released a study blasting the worst of the nation's 7,000 for-profit trade schools for deceitful practices that prey on vulnerable and often semiliterate students. The report lays nearly half the Government's $1.6 billion student-loan default burden on the doorsteps of such institutions. Many of the schools, which currently enroll 1.3 million students, have dropout rates in excess of 50% and loan-default rates to match. "The kids are left without an education and with no job," says Bennett, "and the taxpayer ends...
...like a grand gesture at the time. This year, just for the privilege of calling itself the official soft drink, Coke paid a cool $3 million. The Olympics went to Los Angeles in 1984, learned all about how to cut deals and sell fantasy, and made a $215 million profit. The organizers of the Calgary Games have merely taken a leaf (a maple leaf, of course) from the Los Angeles book...
...giving sponsors & preferential treatment on tickets and accommodations, being more interested in playing host to such visiting royalty as Norway's King Olav, Spain's Juan Carlos and Monaco's Prince Rainier than it is in the people of the host city. "I hope the Games do show a profit," says Reg Brown, 44, a rancher outside Calgary. "But I'll be interested in seeing how much of that profit goes toward helping amateur athletes, as they've promised it will...