Word: profiteer
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Dates: during 1940-1949
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...first-half earnings began to come in, they showed the expected drop, in profits from 1948, when inflated prices were at their peak. But they still looked healthy. The General Electric Co., which had been among the first big companies to cut prices and had already felt the sales slump in household appliances, was possibly a bellwether of how good "normal" might be. G.E.'s President Charles Wilson reported a second-quarter net of $19.8 million, down 32% from the same 1948 period. However, profit was more than 100% above G.E.'s earnings of ten years...
Woods had simply turned the project over to an architect friend, who had got the job done. The architect's fee was $400 for each of the first two houses, but would be shaved to $50 each on a mass-production basis. Woods's profit: $350 a house...
...answer. By stamping entire console cabinets out of plastic in one piece (TIME, May 16), he was able to step up output and make some handsome price cuts. Last week it looked as though Siragusa's answer was right. Admiral Corp. had a second-quarter profit of $1.6 million, 129% more than its net for the same 1948 period...
...market in U.S. mules, the U.S. traders raised such a ruckus that EGA took a closer look at the deal. It finally told Mahmout he could sell the mules, provided he bought them through established U.S. mule dealers. To make matters worse for him, EGA refused to pay his profit in dollars. He wotfld have to take that in Athens, in Greek drachmas. As for the mules, Ferd Owen got half the order (3,750) and Parker Jameson got the other half...
...Eversharp lost $3.4 million in 1947; its stock fell from 25⅞ to 10¼. In November 1946, Straus had bought control of the Schick injector razor, looking for a cushion against hard times. He got a cushion all right (the razor division helped Eversharp show a $1.2 million profit last year), but there was a big pin in it. The pin was R. Howard Webster. To get the razor company, Straus had to take Webster, a big Schick stockholder, into Eversharp as a director. That was the beginning of Straus...