Word: profitable
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Dates: during 1970-1979
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Costing only about 200 each to make, they are sold on the streets for about $1.25. A distributor with the latest tape can make a neat profit of $50 a day. Excerpts from the Ayatullah's hit recordings...
...profit squeeze becomes too severe, the Federal Reserve could decide to put a cap on MMC rates, but an outright ban seems unlikely. Rates are bound to come down eventually. More important, scrapping the MMCs would simply send depositors right out the S and Ls' doors again...
...such a good idea. Their purpose was to keep banks flush with mortgage money, which dries up when interest rates rise and people begin emptying out savings accounts to buy high-interest bonds. While the MMCs have prevented that from happening, they have also led banks into a tight profit squeeze, since they have had to pay more for their money as T-bill rates climb...
...allowed to set their own rates, and they have prospered greatly. Indeed, over the past eight years the eight largest truck lines have earned an average of more than 20% a year on shareholders' equity, a return higher than that enjoyed by the leading firms in such high-profit industries as oil refining, auto, drug and computer manufacturing...
Most important, the ICC last fall turned down a rate increase proposed by the southern trucking conference that would have allowed the lines involved a 23.96% annual profit on stockholders' equity, and approved one that will hold the return to 14.78%. Its reasoning: truckers should not get a return greater than the average for manufacturers. That ruling is still sending shock waves through the industry, and O'Neal expects a lawsuit over it. Undaunted, he wants to set maximum and minimum charges and within those limits allow truckers to post any rates dictated by competition...