Word: profiteered
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Dates: during 1970-1979
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...Phase III will be the lumber industry, which has lately been buzz-sawed into chaos by rising demand and falling supplies. Industry leaders complain that they have been prevented from keeping up with demand because, among other things, too many firms had hit their Phase II ceilings on profit margins and thus could not legally enjoy the higher profit rates that frequently come with expanded sales. Phase III regulations provide for price increases "necessary for efficient allocation of resources" but say nothing about letting companies increase their profit margins by using the same excuse. Lumbermen last week were still confused...
...PROFITS. Profit margins will be held to the average of the best two of a company's last five years, and increases in dividends will not be permitted to exceed...
...even more surprised if he can arrange the financing to carry out his part of a big deal. They note that Occidental, one of the growth wonders of the 1960s, already carries a load of almost $900 million in long-term debt, and has been forced by a deep profit slump to suspend dividends on its common stock for the past year. In their view, Hammer is trying to pull a rabbit out of an astrakhan hat in order to revive his company's fortunes...
Overall, the company reported a loss of $67 million for 197 1, and in the first nine months of last year it did little better than break even; operating profit was $10.7 million, but currency-exchange losses reduced net to $764,000. Prospects are looking better now. Oil demand is booming in Europe, the company's prime market. Occidental has made new oil discoveries in Nigeria and Peru, and last week a consortium that it heads brought in its first well in the North Sea-a promising development, although the potential cannot now be accurately assessed. On the other...
...extras rolled off the press with greater and greater frequency. Meanwhile, up front in the Business Office, things got worse and worse. 1930 gave way to 1931, and only some clever bookkeeping--the suspension of a debt owed one Crimson account by another--allowed the paper to show a profit. In 1932, not even that did the trick; the paper lost $500, even though it paid no editors' salaries...