Word: profiteered
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Dates: during 1970-1979
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...Christian Democrats have yet to convert the S.D.P.'s problems to their own profit. Under the lackluster leadership of Helmut Kohl, the C.D.U. has produced no clear platform, economic proposals or solutions of its own. Moreover, Kohl's chief rival for party leadership, the demagogic Bavarian conservative Franz-Josef Strauss, frightens most West Germans even more than the left-wing Jusos of the S.D.P...
...Steel profits, like the bumblebee, seem to be defying gravity. They hit record levels in 1974, and have gone right on rising through the recession-darkened first quarter of this year. While earnings of all manufacturing industries fell an average of 18% from the same quarter last year, the sharpest drop in 14 years, Bethlehem Steel posted a profit gain of 86% and Republic Steel 57%. U.S. Steel earned 54% more from operations than a year earlier; a huge capital gain lifted the total increase to 103%. The surge occurred despite plummeting demand from such major customers as the battered...
...biggest reason for the profit surge was the rapid series of price hikes that steelmen imposed after Government controls were lifted in April 1974. In the steel executives' view, those boosts were needed to make up for years of low earnings. Last December, after U.S. Steel announced price boosts of 8% to 10% on about two-thirds of its product line, President Ford's Council on Wage and Price Stability asked the company to justify its action; U.S. Steel then trimmed the increase to 7% to 8%. Nonetheless, steel prices at the end of 1974 averaged 40% higher...
...price rises continued to keep profits aloft in the first quarter of 1975, even after demand shriveled for flat-rolled steel used in cars and a sudden drop in users' capital-spending plans caused a fall in orders for steel used in construction. But remarkable as the first-quarter profit gains were, they fell off substantially from late 1974. In the third quarter last year, steel profits rose an average 172% from the equivalent quarter of 1973, and in the fourth quarter 91%. The average gain for this year's first quarter...
...promises of reduced pollution and a pledge to pay more than $50,000 in-lieu-of-taxes to the city for taking taxable income off the rolls to make room for the non-profit power plant may soothe the city's objections...