Word: profiteered
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Dates: during 1970-1979
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...Minneapolis has temporarily closed 16 of its 17 stations, and Owner Paul Castenguay is keeping the sole survivor open only by stealth: late at night he drives his tank truck to major-brand stations where friends will secretly sell him a few gallons, on which Castenguay makes no profit...
...worldwide tightness of supply. Lowered gasoline output also reflects the fact that last winter oil companies shifted much refinery capacity to production of home-heating oil; they are just beginning to switch back. In addition, the Cost of Living Council last month reimposed mandatory price controls and profit-margin limits on the petroleum industry; one effect is to discourage many refiners from importing expensive foreign crude to augment their supplies. Further exacerbating the problem, environmentalists have recently blocked construction of new refineries that they feared would cause ecological damage along the coasts of California, Delaware and the Gulf of Mexico...
...daily for most brokerages to break even; on two of the five trading days last week it slipped below the bottom end of that range. In the first two months of the year, the brokerage business as a whole suffered a loss of $51 million, v. a $250 million profit in the same period of 1972. Such big houses as Loeb, Rhoades and Shearson, Hammill are cutting their staffs; others like Drexel Firestone, Laird, Bissell and Estabrook are being forced into mergers with stronger firms. The crowning blow: last week two seats on the New York Stock Exchange sold...
...putting them on the books and selling the phony policies to other companies that were in the business of reinsurance. Under this arrangement, the reinsurer pays the company that sold the policy $1.80 for every $1 it gets in premiums the first year. The buyer hopes to make a profit by later getting most of the premium money while the seller continues to service the policy. To get the money to pay the premiums for phantom policyholders, Equity had to sell greater amounts of fictitious insurance policies every year. That...
Besides firms involved with the military, NEAR scrutinizes corporations delivering health care, which Koff claimed now control and distort the system in pursuit on profit...