Word: profitable
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Dates: during 1980-1989
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...Harvard-affiliated McLean Hospital, New England's oldest private non-profit psychiatric center, has arranged a joint venture with a for-profit, California-based health care corporation, its trustee chairman said this weekend...
Thursday announcement will mark the first time one of the Harvard-affiliated hospitals, which engage primarily in teaching, research and non-profit patient care, has entered into any such agreement with a for-profit corporation...
...There is no merger," Burr said. "McLean will be operated exactly the same as before. It will remain non-profit and remain under the control of the same trustees...
Faculty members at the time argued that a for-profit takeover of the hospital would compromise academic freedom and the hospitals status as a teaching facility. If consumated, the takeover would have been unprecendented for such an institution...
...jarring transformation worked, and the people came back. Radio City Music Hall Productions revealed last week that it earned $2.5 million in 1985, the first annual profit for the world's largest indoor theater since 1955. Said Richard Evans, chairman of the company and chief architect of the comeback: "Call it the Miracle on Sixth Avenue or whatever, but the Music Hall is again the vibrant, healthy entertainment center that it once...