Word: profitable
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Dates: during 1940-1949
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...gambler's axiom: the best way to make money is to play with other people's chips. While U.S. airlines did their biggest job in history, it was the airmail division of the Post Office which collected over half the ante. The division's reported profit for fiscal 1942, after deduction of its own direct expenses, was a record $8 million-more than half the total net earnings of all 18 U.S. domestic airlines. Next year the division will probably earn a cool $22 million or perhaps better, thanks mostly to an ace in the hole: Though...
...Navy last week went a long way in recognizing the importance of keeping the profit motive at work to promote economical war production...
From now on, said the Navy, it will abandon cost-plus-fixed-fee contracts (in which the contractor is guaranteed a profit no matter what his costs) and return to competitive bidding and fixed-price contracts (in which the cheaper a manufacturer produces a product the more profit he will make...
...constant renegotiation also tends to undermine the profit incentive because the manufacturer knows that no matter how much he lowers costs, his profits will be taken away. The realistic system the Navy is now adopting comes down to this: the Government drives a hard price in the beginning and gives the manufacturer the benefit of any economies he can make...
...wrong places and at the wrong levels. All retail meat prices are pegged at the March 1942 level, but livestock prices (exception: hogs) are as free as a steer on the range. Inevitable result: a record wartime demand pushed livestock prices smack against retail meat ceilings, squeezed profit margins so thin many a jobber and packer was temporarily forced out of the market...