Word: profiteered
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Dates: during 1970-1979
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...been streamlining his approach. Now he typically buys a minority interest in a company, then acts as its banker and financial adviser in helping it expand. He collects fees from the company for his services and, usually within a year or two, sells out his appreciated holdings for a profit. When a reporter noted that all this sounds as easy as winning in a game of Monopoly, Slater replied, "Well...
...executive who earns $30,000 in salary this year could easily wind up paying $5,180 in federal income tax. His neighbor who also makes $30,000, but gets it entirely in the form of profit on the sale of stock, could pay less than half as much. Is that fair? To Richard Nixon's economists, the lower tax on the stock profit is both a just reward for capitalist risk taking and a necessary stimulant to investment. To George McGovern's followers, the preference is the biggest "loophole" in the tax code. Says McGovern: "Money made...
...models that ranged upward from $85 per car or truck. G.M. eventually agreed to reduce its increase to $54 per vehicle and Ford came down to $59. Then, last week Grayson announced that no hike at all would be permitted. Any boost, he asserted, would push G.M. and Ford profit margins above permissible limits. Under Price Commission rules, a rise in price is not allowed if it would lift a company's profit margin-that is, its percentage of profit on each dollar of sales-above the figures for a pre-1971 base period. Moreover, Grayson asserted that...
...Price Commission is still formally considering requests for price boosts of $91 from Chrysler and $150 from American Motors, but neither company can realistically be expected to raise prices when their bigger rivals do not. G.M. and Ford cannot file new requests for price boosts until they can produce profit figures for the current quarter, which ends Sept. 30. Thus they cannot even ask for price hikes again until some time in October...
...homemade TV shows total eight houses. The idea is spreading. For $4,000, Klein offers to supply other real estate brokers with a camera, TV set and a week-long instruction program detailing how to operate the unit. Already eight brokers have signed up, giving Klein a fast profit on his $30,000 investment...