Word: profitable
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Dates: during 1980-1989
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...meanwhile, continue to give the program high marks and strong backing. American experts say that adjustments are necessary to make it more effective, but they caution that it is far too soon to expect economic gains. Observed a U.S. analyst in San Salvador: "How many businesses can turn a profit after two years, especially under business conditions like those of El Salvador...
...Insurance, which is owed $75 million. Rumors of Braniffs demise had circulated for months. Employees had foregone half their pay for one week earlier this year, saving the airline $8 million. Even with that, Braniff had lost $336 million during the past three years and had not earned a profit since 1978. So far in 1982, it had lost $43.2 million...
...Overseas Development Council: "Businessmen looking at the turmoil there are certainly more inclined to withdraw funds than to invest more money, regardless of the apparent incentives." Added Joseph Grunwald, a senior fellow at the Brookings Institution: "I don't see U.S. business rushing down there. The profit prospects are simply not very encouraging...
...auto slump has devastated the steel industry, which relies heavily on shipments to Detroit. National Steel lost $40 million last quarter, and Republic dropped $67 million. At U.S. Steel profits were down 71%, to $80 million. The firm would have had almost no profit without the earnings of Marathon Oil, which U S Steel acquired in January. Company Chairman David Roderick said last week that steel shipments had reached their lowest level in 40 years...
Perhaps the most stunning drop in profits was suffered by the big oil companies. Only two years ago, when petroleum prices were spiraling, the oil giants posted quarterly profit gains of 100% or more Now that the recession and the worldwide oil glut have caused prices to start falling the gusher of petroprofits is over, at least temporarily. Exxon's first-quarter earnings dipped 23%, Mobil's were down 49% and Standard of California's dropped a sharp...