Word: profitability
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Dates: during 1950-1959
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Only about 800 Moslems live in or around Washington, but not only Moslems may profit from the muezzin's tape-recorded summons that loudspeakers will carry out to a radius of eight blocks five times each day: "Come to .prayer. Rise up to your welfare!" And in the last hours of darkness just before dawn: "Come to prayer. Rise up to your welfare. For prayer is better than sleep...
...which is a record high. But labor refused to have the price hike laid at its door. Said United Steelworkers' President David J. McDonald: "Even without raising prices and without obtaining greatest output per man-hour, the corporation is in a position to increase its net profit from $348.1 million in 1956 to $437 million in 1957." The steel industry, charged Dave McDonald, is trying to make the union a "scapegoat" for the "irresponsibility of pricing policies which have contributed to the rising trend of prices for more than a decade...
...Pumps & Profits. Years ago, a marina could be built for a few thousand dollars: a wooden-piling dock, a gas pump, a shack to sell beer and bait. Today's marina may cost as much as $10 million or more for a layout as complete as any inland shopping center. Run properly, with low dockage rates (anywhere from ½?to 6? per foot per day depending on season) and efficient service, it can produce a handsome profit for any businessman. Says one East Coast marinaman: "With good management, you can conservatively make a 20% return on your investment each...
...East Coast's most complete: Port Washington, L.I.'s Riviera, which turns a healthy profit each year by providing 150 boatowners with all the standard summer-cruising services (water, ice, telephone, etc.), will also repair and store their boats during winter months...
...since Texas Eastern first asked FPC permission in 1954. But the FPC ruled that the Texas Eastern products line would benefit the public by stimulating competition, even though it might hurt the barge business. Already big Midwest refiners are seeking ways to use the proposed Chicago spur to their profit, while Sinclair, Texas and Gulf are talking about a similar products line to be constructed next year from outside Philadelphia to Cleveland. In addition, Texas Eastern got FPC permission last year to spend $74.7 million on a 422-mile line south from near Beaumont, which will soon bring...