Word: profiteered
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Dates: during 1970-1979
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...doubling as waiters and waitresses; the nuns' chorus from The Sound of Music, for example, may serve drinks at intermission.) For owners, the Hayloft in Manassas, Va., grosses $1.5 million a year, and the Firehouse in Omaha takes in $16,000 weekly-$9,000 of which is profit. Says Actors' Equity President Theodore Bikel: "Dinner theaters are the only success story in the theater today...
...only abuses. One owner, without bothering to obtain power of attorney, took over his patients' bank accounts, charged them a high private rate until their resources were exhausted, then kept them on at the lower rates paid by Medicare and Medicaid. Other operators increase their profit margins by tacking extra charges onto already high bills. Mendelson reports that one Virginia nursing home listed charges of $3 per day for care of bedsores, which probably resulted from staff neglect in the first place...
...wonder what prompted this saccharine outburst. After completing a paper, I needed a treat. (That's good psychology.) I attempted to recapture the sweet joys of youth and made a startling revelation. Vending machines, while making a profit for their owners, stock inferior candy--and even what they do have is stale. Candy bars cost a fortune. No longer can one be a gourmand on a nickel delight. Even the 15 cent and 20 cent bars have shrunk. My mouth isn't that much bigger, but the bars are consumable in one bite...
With wage-price controls dead, some businesses are boosting prices in order to increase profit margins. Raw-material prices continue to soar: last week the island nation of Jamaica announced plans to triple taxes and royalties on bauxite exports. The move will force up aluminum prices in the U.S., which gets 60% of its bauxite from Jamaica. Also, predicts Joseph Pechman, the U.S. is "going to begin to see a wage-price spiral." Wages have been rising at an annual rate of only 6½% to 7%, but Pechman believes that unions in an era of soaring inflation will become...
EDWARD COOPER doesn't like his job because he's an artist as well as a businessman. When his wife died four years ago, he took the position of director of a non-profit art gallery because he "had nothing better to do." Now, he works overtime without pay. He drinks too much instant coffee by day and gin and tonics at night to get him through...