Word: profitable
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Dates: during 1980-1989
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Midland bought controlling interest in Crocker in 1981. Shortly thereafter, Crocker began losing money because of shaky loans, but Midland reorganized the California bank and helped it earn a profit of $38 million in 1985. Midland was willing to sell Crocker because better profit opportunities are becoming available in Britain as the government of Prime Minister Margaret Thatcher deregulates the country's financial markets. For that reason, Midland decided that it made more sense to deploy its resources at home rather than continue a long-distance relationship with Crocker...
Michael Kennedy '72, financial aide for his brother Joseph, speaking in Boylston Hall's Ticknor Lounge Wednesday, praised his sibling's "combination of business acumen and social conscience" and his work in founding and directing the Citizens' Energy Corporation, a non-profit fuel assistance company. Michael Kennedy is a vice president of a related non-profit company...
Since his entry into the race on December 4, Kennedy has consistently led polls of voter support. He comes to the race from his positon as president and founder of Citizens Energy Corp., a non-profit fuel assistance business. Kennedy is by far the most visible of the candidates, and has received strong support from his family...
...opportunity to create large new corporations. Nashville Attorney Tom Beasley formed Corrections Corp. of America with two partners in 1983. One of his first investors was Jack Massey, the Nashville financier who built the Kentucky ) Fried Chicken empire and Hospital Corp. of America, the largest U.S. chain of for-profit hospitals...
...prison for less than half of what it would cost the state, and can house inmates for just over half the usual cost. One way the company proposes to save money is by paying its guards less than what civil service guards make. Critics, however, fear that for-profit prisons have a greater incentive to keep inmates in jail than they do to rehabilitate them...