Word: profitable
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Dates: during 1980-1989
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Softness in the home market could bring trouble for Apple Computer, one of the industry's superstars. The company outperformed most rivals with an 11% profit gain, to $10 million, in the first three months of the year, but new orders from dealers have slowed down. "It's clearly a period when the industry is pausing," says Apple President John Sculley. To keep inventories from piling up, Apple ordered weeklong shutdowns at three of its factories in March and at a fourth plant in April. In addition, the company canceled production of its top-of-the-line Macintosh XL, originally...
...presence is uninvited and undesirable." TWA has just begun to recover from nearly a decade of turmoil that culminated in the February 1984 spin-off of its lucrative hotel and food-service divisions into a separate company. The airline posted earnings of $29.9 million in 1984, its first profit in four years, partly the result of cutbacks in its jet fleet and work force. TWA remains the No. 1 carrier on transatlantic routes, which are highly profitable. But losses on domestic flights, where cut-rate fares are common, threaten to wipe out the gains made on the overseas front...
...time Icahn has been foiled. He made an unsuccessful pass at Phillips Petroleum two months ago, and in the past has been fended off in raids on such companies as Marshall Field, Dan River and Saxon Industries. But in each of those ventures, Icahn walked away with a tidy profit...
...economist acknowledges that his plan is unlikely to be used in its pure form, but says that even a modified version would be a strong tonic for the American economy. Companies, for example, could guarantee a base wage and then offer variable bonuses that would be a share of profits or revenues. More than 350,000 U.S. companies already offer limited profit sharing, though employees often do not receive the money until they leave the company. Some firms, including General Motors and Ford, have started to give out annual profit- sharing checks. GM last year gave a typical employee...
Weitzman cites Japan's economy as proof that a share system can work. In many Japanese corporations, as much as half of a worker's pay comes in the form of a bonus that is tied to the company's profits or revenues. That makes workers' annual income somewhat unpredictable, especially in bad times, but the country's unemployment rate is only 2.7%, and layoffs are rare. In addition, the Japanese have a reason to work hard and strive for quality because some of their pay is linked to the company's fortunes. Widespread use of profit sharing, says Weitzman...