Word: profiteer
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Dates: during 2000-2009
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...timed in advance. Deadlines of when last offers could be made on tickets, starting bidding levels preset for the buying audience, and offers to sell made less than 24 hours before the dance were among the signs that many students had calculated their sales to rake up the maximum profit. The e-mail list quickly became an eBay list...
...Meanwhile, Schulkin is focusing on a for-profit Carrotmob spinoff called Virgance, which starts up and acquires small organizations that offer collaborative market solutions to social and environmental challenges. One of the first fruits of the effort is 1BOG, a community-based program that organizes residents locally to negotiate group discounts from companies that install solar-energy panels. Says Schulkin: "What's good for activism is also good for business." Carrots are looking greener every...
...pulled out of Germany and South Korea in the face of stiff competition and poor sales. Still, Wal-Mart has been weathering the economic crisis better than most. The company on May 14 announced it earned $3.02 billion in the three months ended April 30, about equal to the profit it made in the same period in 2008. Revenue fell 0.6% to $93.47 billion from $94.04 billion a year earlier. Highlighting the growing importance of markets such as India, nearly one-fourth of Wal-Mart's sales for the quarter - 22.7% - came from its international division...
...financial incentives: Providers get paid according to how much care they provide, rather than how good it is. If a botched surgery lands you back in the hospital, for instance, that means more profit for the health-care industry. "They are often penalized if they provide more-efficient care, if they reduce readmission rates," Orszag says, adding that changing that kind of perverse incentive will be a major focus of health-care reform...
...lead to a vicious circle of self-perpetuating cutbacks unless the government steps in to buttress demand. Under this logic, any actor claiming to act in the public interest (including but not limited to the government) ought to buy more goods (and labor) in a recession than a for-profit corporation under comparable constraints in order to maintain employment and demand levels...