Word: profitable
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Dates: during 1940-1949
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Truth was that the President had finally bent a sympathetic ear, two years late, to Elder Statesman Bernard Baruch's idea of an overall freezing of wage levels, profit levels, price levels. Mr. Roosevelt talked it over with his Congressional leaders, with his family at the White House, with Price Boss Leon Henderson. Then he hinted at it to the press, with an ear cocked for the national reaction...
...great wartime solution, proposed occasionally for 20 years and passionately for two years by Baruch, was simply to proclaim at any random date that the price, wage and profit levels existing on that day constitute the final ceilings. Where these ceilings were unjust, adjustments would be made later. If such a level had been proclaimed two years ago, says Baruch, a billion arguments, frustrations, delays and inequities would have been saved the U.S.-not to mention billions of taxpayers' dollars in the rising costs of everything, from butter to guns...
Backing the non-profit consumers co-operative movement, throughout the country, the Harvard Teachers Union is co-sponsoring a series of three technicolor films on the subject with the Cooperative Food Stores. They will be shown next Monday at 8 o'clock in New Lecture Hall...
Faced with profit and dividend cuts like these, many investors dumped stocks overboard as soon as they read Morgenthau's tax bill. Result: the Dow-Jones industrial average plopped 4½ points to 102.1, lowest since March 1938; utility shares hit 12, lowest ever and only one-twelfth of 1929-5 145 peak. Railroad shares fell over a point, despite the 3-to-6% freight-rate increase they had been allowed on Monday (but rail stocks, at 26.3, were still 2 points above last year's low). New York Stock Exchange seats dropped too-one sold...
United, like Douglas (TIME, March 9), warned its stockholders that this year it will have less trouble holding profits down, since most of its present sales are on limited U.S. profit orders, not to foreign governments, which have afforded much larger profits in the past. Last year 58% of United's business was with the U.S. (v. 23% in 1940); this year, 80-90% will be domestic...