Word: profitably
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Dates: during 1970-1979
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...vote of the United Nations General Assembly's Social Committee [Oct. 27] equating Zionism with racism is a sickening example of how ideals and principles are bartered for profit. There is nothing in Zionism that hints at racism. To the contrary, many non-Jews, blacks among them, are ardent Zionists. It is the Arabs who call blacks abeed, which means slaves. It is the Arabs who encouraged the pogrom that killed my cousin and hundreds of other Iraqi Jews, and all the oil in the world will not wash that fact away...
...Otis-at $42 each. Behind the move lay two years of planning by United Chairman Harry J. Gray to end the firm's heavy dependence on Government contracts, which became increasingly scarce as the Viet Nam War wound down. In 1970, when United earned a $45.5 million profit on sales of $2.4 billion, 53% of its business came from Washington. By 1974, the Hartford, Conn.-based company had reduced that to a third of $3.3 billion annual sales. One reason: it acquired Essex International, Inc., a major producer of electromechanical wire. That move gave United a foothold in both...
...York City radio stations, a bank uses a skit to encourage listeners to put their money in savings accounts. In the sketch, a wife berates her husband as they stand in the midst of a barren desert. "You honestly believed you could resell this land at a profit?" she groans. "There's only one person in the world who'd buy it, and you already have." In fact, thousands of others have bought such desolate plots. According to an indictment handed down by a federal grand jury last week, 77,000 such "semiarid desert lots" have been sold...
...Slater, Walker. According to the Sunday Times of London, Spydar acquired low-priced shares of two companies purchased by a Slater subsidiary in Singapore. After the acquisitions were announced and their stock soared in a bullish Hong Kong market, Spydar sold their bargain-bought shares for a handsome profit. Local investigators are trying to determine if securities laws were broken and by whom...
Asset Stripping. With a personal stake of $120,000-accumulated by playing the stock market-and some borrowed capital, he bought his first such company in 1964. He quickly sold its principal asset (an office building) for a profit-a practice known as asset stripping-and used the money to finance his next acquisition. By 1968 the Slater, Walker pyramid had grown to 500 firms and Slater's personal fortune had risen to an estimated $10 million. He bought a lavish manor in Surrey and spent long weekends there indulging his passion for chess. In 1972 he provided...