Word: profiteered
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...writing songs performed by Dionne Warwick and Ashford and Simpson and producing small movies. Pulled into the family business in 1982 by his father and made CEO in 1994, he scored wins by pushing premium brands like Chivas Regal and Absolut, and buying and selling Tropicana for a juicy profit. But Hollywood continued to beckon. He dumped the company's safe, lucrative stake in chemical giant DuPont to buy Universal Studios' parent MCA in 1995 and recording company PolyGram...
Fresh from reporting Deutsche Telekom's first profit in two years - after making a European-record €24.6 billion loss last year - CEO Kai-Uwe Ricke promised last week that 2003 was "the year of the turnaround." DT isn't the only telecom dialing up good numbers: a string of other phone companies have reported positive results, including British Telecom, which last week posted a 40% gain in quarterly profits. But phone companies aren't off the hook. BT's €8.1 billion pension hole dwarfs its income. And better profits owe more to cost cutting and asset sales than...
Fresh from reporting Deutsche Telekom's first profit in two years - after making a European-record €24.6 billion loss last year - CEO Kai-Uwe Ricke promised last week that 2003 was "the year of the turnaround." DT isn't the only telecom dialing up good numbers: a string of other phone companies have reported positive results, including British Telecom, which last week posted a 40% gain in quarterly profits. But phone companies aren't off the hook. BT's €8.1 billion pension hole dwarfs its income. And better profits owe more to cost cutting and asset sales than...
Chief among the competing concerns surrounding the move across the Charles is the matter of how Harvard will financially support its new neighborhood. As a non-profit entity, Harvard is not compelled to make any tax payments to the municipalities in which it resides. Instead, it has taken it upon itself to make payments in lieu of taxes (PILOT) to those communities. PILOT payments are an admirable consolation prize when Harvard takes up land that would otherwise bring valuable tax revenue. And as the University increases its presence in its Allston campus, it must be willing to increase its PILOT...
Harvard has every right to purchase tracts of land as it continues to grow—and, as a non-profit educational institution, it should remain exempt from taxes. But it must create payment schemes that adequately reimburse cities for that loss of tax revenue...