Word: profiteer
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Dates: during 1930-1939
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Irenee and Pierre du Pont admitted to a Senate committee yesterday that a profit of six per cent, plus an occasional bonus "to speed up work and encourage invention," would be sufficient for munitions manufacturers in a forthcoming war. This is an eminently reasonable attitude. Six per cent on a billion or so will provide any little luxuries that the family may require, and an attempt to obtain more might encourage some unthinking persons to question the whole matter of private profit in wartime. Besides, the returns from the last international skirmish have probably left a small balance...
...lives. Such arguments, however, insult the patriotism of the armorers, all of whom would gladly give their last drop of blood, if necessary, for the good of their country. It is indeed the highest type of national service to supply the troops with the materials of defence--at a profit of only six per cent. As for the suggested bonuses: these sums will be donated to the Red Cross or returned to the government in the form of Liberty Loans--at a mere three per cent...
...Baker was worried. Expenses could not be trimmed any more without hurting the bank's business. The annual payroll had been cut another $200,000 to $4,600,000, and the staff of 2,141 employes was at rock bottom. Seven branches had been closed, leaving 66. Including large profit from Government bond trading, probably a non-recurring item, earnings for 1934 would be about $4,900,000, down slightly from the year before. So, with no end to the Government's easy money policy in sight, Banker Baker recommended a cut in the dividend from...
During his three years as president of Gulf Oil, Mr. Drake has had two years of deficits, only one of profit. But like the heads of most Mellon-owned enterprises he has a whopping corporate surplus ($173,000,000 at the last accounting) to give confidence. Mr. Drake's chief corporate worry last week came not from the oil business but from a Federal Grand Jury in Philadelphia which indicted Gulf Refining on 72 counts for working its employes longer than code hours during a labor squabble last July...
...distinguished undergraduate record," Mr. Chase writes, "furnishes the best evidence of ability to pursue graduate study with profit. The high percentage of failure among men admitted on the recommendation of their department should make us stricter in our entrance requirements...