Word: profitability
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Dates: during 1970-1979
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Affectionately known to employees as "Grandma," A & P, like many old ladies, has been showing her age. Supermarket chains generally have been battling slumping profit margins, changing food-buying habits and competition from smaller, more flexible independents and fast-food restaurants. The once unchallenged A & P was hurt because many of its center-city stores were uneconomically small and stuck in deteriorating neighborhoods, and it was late to open bigger, more modern markets in the more profitable suburbs...
American Express has reason to persist and even to raise its offer. Under Howard L. Clark, who was chairman from 1960 through early 1977, revenues soared from $75 million to $3.4 billion, and profits hit $262 million. Growth has continued under new Chairman Robinson, the workaholic scion of an Atlanta banking family and protégé of Family Friend Clark. But Amexco has largely saturated the market for high-income holders of credit cards, and competitor Visa and some major banks are also trying to sell their own traveler's checks. Earnings from Fireman's Fund Insurance...
...Church of God, International, from Tyler, Texas. Since the family fallout, the Worldwide Church has been run by Rader, a lawyer who was baptized by Herbert in 1975. The suit claims that Rader, whose 40-year-old secretary wed Herbert Armstrong in April 1977, may have reaped the profit from the $1.8 million sale of his Beverly Hills estate, which allegedly was maintained at church expense. The suit also raises questions about Rader's financial involvement in an ad agency, a travel agency and a book-publishing firm that sell services to the church. At a receivership hearing...
...television series will be treated at the box office next Christmas is also a puzzling question. Despite the immense success of Star Wars and Close Encounters of the Third Kind, science-fiction movies are often a fragile film commodity whose only sure audiences are cult enthusiasts. To make a profit, Star Trek must reach out far beyond them. Monsters aside, that may be the most difficult enterprise confronting the creators of the starship Enterprise...
...Cleveland (the second being the recall election) by being a kind of urban populist in a city composed almost entirely of poor, working-class ethnics and blacks. His slogan was "Power to the People," and he waged war against the "establishment" that exploits the city for its own profit from its downtown offices and suburban homes...