Word: profitability
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Dates: during 1950-1959
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Titan & Atlas. So far, most of the production-and most of the profit-has gone to two giants in the field: General Tire's Aerojet subsidiary and North American Aviation's Rocketdyne Division, both of which got in on the ground floor and today account for almost 75% of all the rocket-engine business. Founded in 1942 by Theodore von Karman, who now acts as a consultant, and a group of scientists at California Institute of Technology, Aerojet plodded along until 1945 when General Tire bought up 50% of its stock for a bargain $75,000, later increased...
...Mortgage Co. $71,407, with which he and Hedlund bought contracts at a discount. After some $10,000 in payments had been made on the principal, they "sold" the contracts to Dave Beck, now acting as trustee of the Ray Leheney Memorial Fund, for $71,607; scored an easy profit of more than $11,000 for Hedlund and Beck, and left the widow no wiser...
...mutuel receipts, the paper printed the names of 42 legislators who were on a racetrack payroll. But Loeb himself derives his keenest joy from an editorial page that ranges acrimoniously from "gulliberals" to Detroit ("overgrown, overdecorated, over-expensive U.S. cars"). "Newspapers," he maintains, "should be run for fun. not profit." From the Manchester Union Leader Publisher Loeb gets both...
...Wage costs were up 33%, fuel 33%, other expenses as much as 120%. United Air Lines was in even worse shape. It boosted first-quarter revenues 6%-and lost $884,609. National Airlines, also operating at near record rates, expects a 25% drop in profits this year; American Airlines, Braniff and Delta are also down. Trans World Airlines boosted its revenue 10.5% last year, yet lost $2,300,000 v. $5,400,000 profit in 1955. This year operating revenue is up 17% over last year's first quarter-and the deficit has increased by 22%, forcing the line...
...more than a year, U.S. airline operators have been flying in a pilot's nightmare: the higher they flew, the closer they came to a crash. Though domestic-airline revenues rose to new records, the drag of faster-rising costs reduced profits to the point where net operating income dropped to $101 million in 1956, v. $123 million in 1955. Last March seven major airlines petitioned the Civil Aeronautics Board for a 6% "emergency" fare inr crease pending the outcome of a full-scale general fare investigation of their entire rate structure. Last week, in their first-quarter reports...