Word: profiteered
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Dates: during 1970-1979
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...Coop is quick to rebut its critics. General manager Davis recently labeled many of Steele's criticisms as "contrived." He claimed that a new profit-sharing plan more than compensates Coop employees for any losses they might have suffered resulting from the adoption of a new pension plan last year. The Coop pension plan has been one of Steele's favorite targets...
...Coop is tied to other busness interests as well through its board of directors. Frank L. Tucker, professor emeritus at the Business School and Coop treasurer, is a director or trustee of various industrial, financial, or non-profit organizations, including the County Bank of Central Square. The Coop has done most of its financial and has received its major loans from the County Bank ever since its dispute with Harvard Trust...
Davis defends expansion into these areas on the grounds that they are necessary to support unprofitable student-oriented enterprises. The Coop makes no profit on record sales, since it must sell records at discount prices to compete in the tough Boston market. Textbooks are notoriously unprofitable (despite the fact that the Coop has a monopoly on Harvard reading lists) since they are so bulky and may only be sold at a low 20 per cent margin. Davis asserted that the Coop would have to discontinue many of its student-oriented lines were it not for the profit it makes from...
...although the University is not required to divulge the contents of its affirmative action plan until after it has been accepted by HEW and has become binding University policy, the women have long maintained that the Administration might profit from suggestions by women employees...
...loss. Of the 26,000 horses born this year, at least 20,000 will cost more to train (about $10,000 a year at the big-time tracks) than they will ever earn. Most of the others, competing in routine races, will merely break even or make a modest profit. But a very few of the top ones, good enough for classics like the Triple Crown (a total of about $525,000 in purse money this year) will earn fortunes and then become the sires or dams of horses also potentially worth fabulous sums...