Word: profiteered
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Dates: during 1970-1979
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...Ford lured him away from Bayerische Motoren Werke (BMW), where he had been sales vice president. It scarcely seemed a good time to make the move, since German Ford in 1974 lost $69 million-while its chief rival, General Motors' Adam Opel subsidiary, squeezed out a $2.4 million profit-and saw its share of the nation's auto market fall to 10%, from...
...quite campaigning, but she is a distinct political asset. A frisky, freckled, strawberry blonde who looks like Huck Finn's kid sister with the inevitable Carter smile, she basks in all the attention without letting it turn her head. She has, however, learned to turn a profit by selling lemonade and sandwiches at her already famous stand in Plains. In one day's brisk entrepreneurship, she and her pint-size partners earned $23 from tourists and newsmen who were thirsty for anything that the Carter family provided...
...customers. By doing without agents it was able to set premiums as much as 25% below what competitors charged. Initially, too, it insured only federal, state and municipal government ernployees-a responsible, low-risk group. So it was one of the very few insurers that actually made a profit on underwriting (premium income matched against claims payments) as well as on investments...
Later, GEICO sold insurance to just about anybody, and for a while underwriting profits continued. During the rapid inflation of the early '70s, however, the costs of automobile parts and medical care-two chief items in claims against GEICO-rose even faster than prices generally. GEICO lagged in raising premium rates and failed to set up adequate reserves to pay claims. In 1974 GEICO squeezed out a $26 million overall profit, but in 1975 it plunged $125 million into...
...which are sold to other farmers. His warehousing business buys peanuts from other farmers for sale to manufacturers. Nonetheless, Carter's business has become a potential campaign issue. The reason: an anachronistic price-support program that insulates peanut farmers from market risks and enables them to profit at the expense of the public purse...