Word: profiteered
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Dates: during 1970-1979
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...when the Environmental Protection Agency flatly banned the most effective coyote poisons - Compound 1080 (monofluoride acetate) and the M44 (a spring-loaded tube containing sodium cyanide)-sheepmen have been howling loudly. They claim that a burgeoning coyote population is threatening their already risky business (which operates on a 2% profit margin) with ruin. They have begun attaching bumper stickers to their automobiles with legends like: EAT AMERICAN LAMB. 10 MILLION COYOTES CAN'T BE WRONG...
...film documents U.S. economic interest in Chile. Anaconda Mining, one of the two biggest U.S. mining operations in Chile before nationalization, made 80 per cent of its profits for one year in Chile although Chile represented less than 20 per cent of Anaconda's investments. UP estimated in 1972 that the average rate of profit on copper investment for U.S. companies was 52.8 per cent compared to a 10 per cent return offered these investors by other countries...
...attempts by foreigners and the profit-seeking currency managers of the U.S. multinational firms to sell their dollars for gold and stable currencies led to a series of international monetary crises after 1967. These culminated in the devaluation of the dollar in 1971 and again in 1973. Since one dollar buys less foreign currency than it did in 1967, imports have become more costly...
...answering philosophical argument has been that profits can be considered "excess" if they result not from a corporation's efficiency or inventiveness but from outside circumstances that remove the normal checks of the market and allow profit at the expense of the public. Historically, that argument has been given a moralistic cast by war: it seemed wrong for a company to earn outsized profits out of a situation that imposed suffering on many citizens...
...flusher times, Perot's plan might have worked. But the stock market has been wobbling downward ever since the Dow Jones hit its alltime high of 1051.7 in January 1973. The advent of negotiated commission rates for large transactions in 1971 has cut into the profits of many firms. New York Stock Exchange member firms collectively lost some $80 million last year after turning a profit of more than $787 million in 1972. Among the biggest losers was Walston, which reportedly dropped $22.9 million between July and November, the first five months of Perot's stewardship. Meanwhile, duPont...