Word: profitable
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Dates: during 1980-1989
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Gilbert, who left Harvard in 1981 to head one of the first biotechnology firms to exploit genetic engineering techniques, claims his company can do the job and turn a profit at the same time. He estimates that his "moderately sized bio firm" would require 300 scientists working over a period of 10 years at a cost of $300 million. The only problem, Gilbert says, is "how to make money while the research is going...
Smith, a graduate of Cornell and the Wharton School, started dabbling in distressed securities in the late 1960s while a trader at Manhattan's Bear Stearns. He made clients and himself a tidy profit on bonds issued by the bankrupt Penn Central railroad. In 1985 Smith left Bear Stearns to create the first company devoted to dealing in distressed securities. As a privately held firm, R.D. Smith does not report earnings, but the staff at its cluttered Manhattan office has expanded from eight to 35 in two years...
These days Jessica Hahn, Donna Rice and Fawn Hall are crisscrossing public attention, suddenly shot from obscurity to -- well, not fame and not stardom but a sort of fuzzy, soggy celebritude. They illustrate how the resourceful can profit from publicity that might just embarrass the unambitious. Consider...
...million (including 15% sold at a discount to hotels and airlines), making it the country's second largest daily (No. 1: the Wall Street Journal, with 2 million).After suffering more than $450 million in operating losses, the Gannett Co. announced that USA Today turned a $1 million profit last May. The red ink reappeared during the summer, but the wealthy media conglomerate is still declaring victory. "USA Today is established to the point where even we cannot screw it up," says Allen Neuharth, Gannett chairman...
...appeared as a leading voice of the feminist movement in 1972, Ms. magazine has defied convention, punctured myths and helped to mold public opinion on women's issues with a sharp, witty and often bristling style. Despite its influence, however, the monthly (circ. 480,000) has rarely turned a profit. Turning to the Aussies for help, Co-Founders Gloria Steinem and Patricia Carbine announced they will sell the publication to the John Fairfax company, a major Australian communications conglomerate, for an undisclosed price believed to be as much as $15 million...