Word: profiteered
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Dates: during 1970-1979
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...Lost Profit. The reason is that unless Aramco raises its prices to those customers, it could lose all the profit that Aramco companies now collect on Arabian light crude. Exxon, one of Aramco's owners, estimates its own profit at 34? per bbl. But if Aramco has to pay 94.8% of the posted price as well as the higher taxes and royalties, its costs per barrel could jump as high as 55?, to about $10.35. At a meeting of security analysts in Manhattan last week, Exxon Chairman J. Kenneth Jamieson said he was "somewhat mystified" by the impact...
...Saudis contend that the oil companies' profit is "excessive," and that the leap in taxes and royalties is only fair. In effect, the Saudis are saying that they are lowering posted prices, and that if consumers are asked to pay more, then the oil companies are to blame...
...everything into an expensive color group, preferably green). Sounding like Monopoly's J.P. Morgan, Brady suggests ways of driving competitors out of business by bluff, capital acquisition or snapping up cheap properties that will appreciate in value. Whether as paper realtors or real-life investors, players will profit from hardheaded sections on avoiding the mortgage morass, deferring bankruptcy and beating the cheat...
...state occupational health director: "You're dealing with a very powerful issue, with the right to make a profit. You're dealing with the guts of life, you're dealing with business. What we've tried to do is take a balanced view...
...spite of the grapplings of the new upwardly mobile business elite. Perhaps Thorstein Veblen had a better understanding of the workings of a capitalist-industrial economy when he detailed the anti-social nature of business. In Veblen's view, business is forced by its basic orientation of profit-seeking into a policy of "sabotage" of production. It must fight against the "inordinate productivity of the machine" by keeping prices high and supply limited. Until more evidence is compiled we must view with suspicion Jencks's belief in the socio-economic beneficence of the "parallel elite...