Word: profitability
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Dates: during 1970-1979
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...Washington: Behind Closed Doors, a fictionalized twelve-hour mini-series about Watergate. ABC played fast and loose with historical facts: all names and most events were altered for the sake of heightening the White House horrors. In a new, eight-hour Watergate series, Blind Ambition, CBS has tried to profit from ABC's dilemma. A docu-drama adapted from John Dean's memoir (among other sources), Blind Ambition recites enough facts to satisfy the most literal and obsessive Watergate buff. Yet scrupulous accuracy does not necessarily make for good drama or even good history. For all its intricate...
...make money out of school property. The closing of school buildings, nearly all in prime residential neighborhoods, will not result in a bonanza for the district, as many taxpayer organizations claimed. Local zoning and state laws greatly restrict the district's ability to rent any building to profit-making companies. Tearing the buildings down and selling the valuable land is equally complicated. It is also a source of concern to parents who believe-with some reason-enrollments may one day increase and the buildings will be needed for students again and could not be duplicated or brought back...
...course, we have to hire the best tax lawyers and lobbyists. Government red tape imposes tremendous costs on us, costs which we have to pass on immediately to you to maintain our profit margin. Without our lawyers and lobbyists, we would be unable to make ends meet. We wouldn't be able to take advantage of reduced capital gains taxes and depreciation allowances. And without our lobbyists, we would be saddled with things like the wind-fall profits...
Justice White, in dissenting from the majority opinion, put his finger on the crucial point--that corporations are artificial entities chartered by the state for the purpose of economic profit-making and not for the purpose of furthering political goals. The sate is interested in promoting economic development and thus bestows upon corporations special privileges such as the ability to pool capital, limited liability, and perpetual life. "The special status of corporations," argues Justice White, "has placed them in a position to control vast amounts of economic power which may, if not regulated, dominate not only the economy but also...
...been a prodigious profit cow for RCA in recent years, regularly furnishing about one-quarter of pretax earnings and in 1975 supplying 31%. But the milk was growing watery. By the end of 1978, NBC's pretax profit contribution dropped to 17.6%, less than two other RCA divisions. So Griffiths-"Bottom Line Ed," as he is known at RCA-went out and hired "the man with the golden gut," Fred Silverman...