Word: profiteered
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Dates: during 1970-1979
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...major reason is that the climb in the prime has not yet discouraged ravenous loan demand from business. No reason why it should, either: strangely enough, borrowing at a 9½% prime is potentially profitable for some businessmen. Other interest rates have shot up even higher, including those that the bankers themselves must pay to attract deposits. As a result, last week a big corporation could borrow from the bank at the 9½% prime, then lend the same dollars right back to the same bank at a profit by buying a 90-day certificate of deposit (CD) yielding...
...Verge of Profit. The Jerusalem-via-Jordan route has its drawbacks. Tel Aviv's Lod Airport, the traditional gateway to Jerusalem, is less than an hour's drive from the Holy City. But a trip from the Amman airport can take up to five hours-including a bus drive through the Jordan Valley, a stop at the border for passport and baggage check, and a second bus trip to Jerusalem. The airline offers each tour customer a free excursion flight to the seaside resort of Aqaba in Jordan to offset the inconvenience. Right now, Americans must first...
Alia is ten years old and on the verge of showing a profit for the first time; it survived its first decade on government subsidy. Cabin service is up to the standards of Western airlines. Pilots and their crews, once mostly foreigners, are now 80% Jordanian. They fly one 707, two 720s and two Caravelles-which will doubtless be sold to make room for two new 727s recently approved for purchase by the Jordanian Cabinet. The line's major customers are still Palestinians from round the world returning home for a visit and Moslems from Arab states and Black...
...scenario for an underground comic book, the story would sound unreal: a U.S. company widely reviled in Central America as an exploiter of plantation laborers runs into a rising tide of Third World nationalism. Workers turn intransigent, and profits slump. Then a secretary interrupts a board meeting in Boston with news that an unknown buyer has cornered a huge block of the stock. He turns out to be an ex-rabbinical student who ousts the old management and transforms the company into an empire of steers, root-beer stands and ice-cream parlors. South of the border, he speeds...
...merged United Fruit into a food-based conglomerate that he was assembling, and has proceeded to change its operations, its image, and even its name-to United Brands Co. The payoff: United Brands has gone from a net loss of $24 million in 1971 to a net profit of $10 million for this year's first half alone. Last year sales rose 13% to nearly $1.7 billion, less than a third of it from bananas...