Word: profitable
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Dates: during 1940-1949
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...thus forestall any future criticism of exorbitant expenditures in China. Officially, the Army and other U.S. agencies had been unable to buy Chinese dollars on inflated China's rampant black market (TIME, Dec. 6). Individually, Army personnel can continue to draw pay in U.S. dollars,turn a tidy profit in the black market; where the rate is still more than double the new official exchange...
London's Daily Express indignantly told a vinous tale. Its point: even the British Government has been touched by the profit fever which has kicked the prices of scarce luxuries skyward in Britain. Said the Express...
Said Patterson: "The 1942 profit of $8,361,000 (before taxes) was over 23 times what the owners had in the business at the beginning of the year and more than 35c on each dollar of sales. It must be remembered that the company's business is financed principally by the Government." On Patterson's figures, Jahco had approximately $375,000 more profit before taxes and renegotiation than was shown in company figuring...
...Black. The profit & loss dispute depended on who put what in the profit column. Under Secretary Patterson listed as profit $375,000 of the total J. & H. salaries and other items such as $13,000 for turkeys for nonemployes. Bill Jack listed all this as "expenses," although the Internal Revenue Department disallowed them...
...adequate profit on $23,000,000 worth of business? Bill Jack felt sure it was not. In the next few weeks, he plans to plaster the U.S. with ads in 49 newspapers condemning renegotiation and asking for the law's repeal...