Word: profitable
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Dates: during 1940-1949
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This meant that despite a phenomenal 90% passenger load, record air express cargoes, and higher gross incomes, the industry was barely hedgehopping over the financial woods. TWA crash-landed in the red, losing $92,420 ($357,352 profit last year). Pennsylvania-Central and Western Air Lines lost $77,682 and $17,565 respectively. American, its net down 47%, still cleared the trees by $597,796. Well-managed United fared best, settling down to a $1,110,083 profit-almost as good...
...manager at a reported salary of $3,500 weekly. Shortly before the Warner chain felt the depression, Spyros went into partnership with Paramount (salary: $156,000 a year). As boss of its Fox Metropolitan Theaters in Manhattan, he turned a $1,000,000 annual loss into a $200,000 profit. From there he went to manage Wesco Corp., the holding company for all Fox theaters. Gradually Wesco expanded, changed its name to National Theaters. Two years ago, Spyros moved into his present job, and Wendell Willkie became board chairman. Charlie moved up to boss National Theaters...
...week's end, with Twentieth Century stock up to 24½, Skouras could already count on a small paper profit, barring unforeseen legal complications, if he took up his option. As far as Twentieth Century was concerned, this was all to the good. Said one official: "The company wants to keep him for the next ten, 15 or 20 years. They want...
...notes a year into Paramount common stock at a fixed price of $25 a share, as long as he remained with the company. Thus, if the stock rose above $25 (at week's end it was selling at $25⅞) Balaban could convert the notes, reap a profit. If it dropped, President Balaban simply hung on to the balance of his notes. Obviously this was a considerable inducement to Barney Balaban not to retire...
...taxes would amount to only 25% on profit on a long-term capital gain, as compared to the 74% income taxes on his regular salary of $141,000 a year...