Word: profiteered
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Dates: during 1970-1979
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...Profit from a Monetary Crisis, Browne...
Real Rumble. The disaster cycle was triggered by the recent success of The Poseidon Adventure, a star-laden epic of escape from an ocean liner turned upside down by a capricious tidal wave. Poseidon has grossed $141 million so far, bringing its studio, 20th Century-Fox, $72 million in profit. Such success does not go unimitated in Hollywood, and the studios have now flung themselves into a lemming-like race for the quintessential cataclysm...
...sales of $6.7 billion in the fiscal year ending last February, A. & P. reported a profit of $12.2 million. That paper-thin margin is quite an improvement over the previous year's loss of $51 million on sales of $6.4 billion. Food-chain analysts believe that the main cause of A. & P.'s profit is that, having regained a satisfactory number of customers, the company is again raising its prices. For example, James Palmer, supermarket-stock analyst of Wall Street's Bregman Securities Co., reports that last fall A. & P. began hiking its prices substantially...
...million shares outstanding are held by members of the founding Hartford family and the John A. Hartford Foundation, headed by sympathetic former A. & P. executives. Thus there was little opposition when the company trimmed its prices so low at the outset of the WEO campaign that its gross profit margin slid to an estimated 12%, v. 18% for most discount food chains and 21% for conventional supermarkets. By last spring, the company's costly gamble was paying off as more and more budget-minded shoppers were buying...
...Profit from a Monetary Crisis, Browne...