Word: profiteered
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Dates: during 1970-1979
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More and more Americans have a foreign boss in their future. Propelled by hopes of profit and fears of protectionism, foreign firms are swallowing up American companies or forming their own U.S. subsidiaries to produce goods as diverse as turbines and carpets, chocolate and steel. The tide of investment from overseas has been significantly quickened by the abysmal decline in U.S. stock prices, which enables dollar-laden European and Japanese businessmen to pick up U.S. concerns at bargain rates. Of the corporations buying into America, Frank Sheaffer, the Commerce Department's international investment chief, says: "It is never going...
Foreigners often feel more optimistic about the U.S. economy than American businessmen do. The overseas investors are attracted by the U.S.'s huge market, its prospects for profit growth and-by their own standards-its moderate rate of inflation. Credit is easy for them to get because so many surplus dollars are sloshing around abroad. With greenbacks continuing to decline on money markets, foreign currency buys more investment dollars than in many decades. Europeans and Japanese are also opening up within the U.S. because they fear that rising protectionism among American labor leaders may lead to stern import barriers...
...period last year. While total U.S. domestic air traffic expanded by 7% in the first quarter, lifting the earnings of most competitors, American had virtually no increase at all. Investment analysts had earlier expected that American would earn $20 million or more this year, up from a $5.6 million profit in 1972. Last week Chairman George Spater said that a net loss for 1973 "now seems inevitable." American stock has skidded from a year's high of $25 a share in early January to $10.25 last week...
WAGE-PRICE CONTROLS A system yardstick designed to keep inflation in firm check. Wages are to rise no faster than 5.5% annually, prices no more than 2.5%. Profit margins are controlled. Enforcement is divided between the Pay Board and the Price Commission. Compliance is mixed at first, then moves to within acceptable distance of the goals...
...funds last year by selling its Rousseau Tropics and its Van Gogh Olive Pickers (TIME, Feb. 26), Lloyd was chosen. It is equally typical of Lloyd's nerve that he disposed of the Rousseau in Japan and the Van Gogh to the Goulandris collection in Europe, at a profit of somewhere near...