Word: profitably
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Like many of my fellow students, I always assumed that the HSTO was a bloodsucker of the highest order—what kind of profit were they making off my $5.75 23 minute phone call to my sister in Philadelphia? Who still pays 25 cents a minute for long distance? To add insult to injury, I was furious last week when I received the additional notice that long distance rates are being hiked up by 7.5 percent and that my monthly charge for local service is going up an additional $3 a month. Surely HSTO must be making a fortune...
...Believe it or not, HSTO is a non-profit organization directly owned by the University. And, despite the ridiculously high rate of 25 cents a minute that they charge during the day for their most popular plan, (soon to be 26.9 cents a minute), HSTO is operating at a deficit. That’s right, they are losing money...
...JEFFREY IMMELT Can GENERAL ELECTRIC, the world's most profitable industrial company, continue its stunning record of innovation and profit? That's up to Immelt, 45, handpicked successor to the most influential CEO ever, Jack Welch. Immelt made his name boosting the fortunes of GE's Medical Systems business, and barely three months into his new job, he is already casting a large shadow. Despite the sour global economy, a debilitating advertising slump at NBC and a serious downturn in his jet-engine business, Immelt paid $2 billion in October for Spanish-language TV network Telemundo...
Similar savings are available to most firms. Frederick Reichheld, a management consultant with Bain & Co. who studies worker commitment, has found that a 5% increase in employee retention can yield profit increases of 25% or more. "The more chaotic the environment, the greater the need for loyalty," says Reichheld. "When frontline workers have to act quickly and make decisions on their own initiative, they must be able to trust one another to behave in the best interests of the team." Some companies assume that in hard times, their workers will be grateful to have a job and be unlikely...
...says he spends more than 20 hours a week as manager of Harvard Graphic Design Services at the Harvard Student Agencies where he recently organized a graphic design competition so that students can design free logos for non-profit companies...