Word: profitability
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Dates: during 1950-1959
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...Hoffa's 1948-56 income tax returns, the committee found $60.322 reported under such vague headings as "miscellaneous income" and "wagering." He explained that his friend Bert Brennan placed racetrack bets for him and always showed a yearly profit. Invited by the committee to explain his system, Brennan took the Fifth Amendment...
Hoffa, the committee found, has been involved in many business undertakings, including two summer camps, oil leases, a cattle farm, intricate real-estate deals, and various trucking ventures in which he got generous help from trucking-company owners with whom he negotiated as a labor leader. The most profitable trucking deal, as far as the committee investigators could trace, was Test Fleet, Inc., set up for Hoffa by a big Midwest trucking firm, Commercial Carriers Co. Commercial Carriers had some trouble with striking Teamster drivers in Flint. Mich., and Hoffa threw his weight into the dispute in favor...
...Hearst's 94 separate corporations, discovered outstanding debts of $126 million. What Hearst was after was possessions, power and journalistic influence. His successors, a 13-man board of trustees headed by hard-eyed Richard E. Berlin, 65, a onetime Hearst ad salesman, prefer, where possible, to take a profit and let the influence...
...Itek. Two years ago Rockefeller, a camera bug, invested $279,000 in Itek Corp., which had plans for computer-like photo machines to handle information. He got some Itek shares as low as $2. They soared as high as $315, and Rockefeller's paper profit is now above $10 million...
WHEN Rockefeller turns a profit, he gives most of it to some 200 charities. But he likes to live well. He collects paintings (about 100 by Gainsborough, Bonnard, Vlaminck, etc.), houses (a Fifth Avenue duplex, an estate on the Hudson, a 15-room summer home on Fishers Island-a millionaire's retreat 135 miles from New York), cars (a Bentley, a Cadillac, four others). He loves speed, often commutes in his fast 65-ft. aluminum P-T boat to his office in the RCA Building at Rockefeller Center (of which he is chairman). He enjoys muscle-straining outdoor exercise...