Word: profitable
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Dates: during 1990-1999
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True to form, BERT jumps $1.50 when trading finally resumes on Tuesday, allowing the KSF to cash out with a sizable profit. And not only does the stock's sale leave me with a net gain over my gambling losses; there might even be enough money in there for a couple CD's as well...
...students from the Kennedy School of Government led a seminar last night on starting non-profit organizations...
Such lenders were unable to navigate the economy's rapid crosscurrents. Even as defaults eroded profits, the booming economy has allowed some sub-prime borrowers to pay off their loans ahead of schedule. That has reduced income and ruined profit projections in many parts of the industry. Notes Daniel Phillips, chairman of FirstPlus Financial, a Dallas sub-prime lender: "No matter how conservative a lender's assumptions are, no crystal ball allows him to see what may happen...
Just ask Green Tree, where many shareholders remain bitter about the profit revision, which included a $190 million write-down for the fourth quarter of 1997. Angry investors have filed at least a dozen lawsuits, some charging that Green Tree used improperly "aggressive" accounting methods to tot up profits and thereby boost Coss's personal pay--a charge the company denies. Coss did enjoy a formula that accorded him a salary of $400,000 plus 2.5% of the company's pretax profits. Half the compensation was in cash, the other half in the form of Green Tree stock that Coss...
Whole Foods has the requisite corporate counterculture too. Employee teams vote on hires and get financial statements, including sales and profit figures for their departments. They evaluate the salaries and performance of their bosses, ratings that are closely watched by top execs. "One of the keys to understanding this company is that the people who started it did not know how they were supposed to do it," says chairman and co-founder John Mackey. "This is the way our culture has developed." Indeed, Whole Foods was recently named by FORTUNE magazine as one of the top 100 places to work...