Word: profiteering
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Dates: during 1970-1979
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...Haiti, into the Caribbean, and back. As recently as the early 1900s, schooners carried most of New England's southbound ice, fish, lumber and granite, returning with molasses and coal. But not for 40 years has such a commercial vessel been built, and Ackerman intends to turn a profit with this one. "It better," he proclaims, "and it will." Like his vessel, Ackerman is a throwback. A fiercely independent Yankee out of Newmarket, N.H., with skilled hands and shoulders like a fullback's, he doesn't give a damn for anyone who doesn't give...
...beauty products, and processed foods. After a coupon is redeemed by a customer, the manufacturer of the product pays the store not only the coupon's face value, usually 5? or 10?, but also a handling fee that may be as high as 5? and is mostly profit for the store. Most shoppers would probably find the supershopping routine very exhausting. Samtur spends five hours a week clipping coupons, filing cents-off labels and mailing out refund requests, which average 100 a month. She tears labels while watching TV; when she takes her children to the doctor, she cuts...
...goods from bread to books, from steel to cars, have been freed. State-owned companies, which control more than 25% of France's economy, have been instructed to operate as if they were private enterprises by relying less on subsidies and making a determined effort to turn a profit...
INADEQUATE INVESTMENT In the 25 years up to 1973, business spending on new plants added about 3% a year to the nation's capital base-plants and machines-but since then the total has risen only some 1.75% a year. Businessmen blame the drop on regulation, profit squeeze, high taxes on capital, and inflation, which saps the confidence that is necessary for investment...
...tons, or about one-seventh of the U.S.'s total. In 1950, the South African Coal, Oil & Gas Corp., known as SASOL, was formed and by 1955 Sasol gasoline was being sold. The state-owned company, which charges just over $2 per gal. of gas, began showing a profit in 1973 and last year had pretax profits of $140 million on sales that totaled close to $ 1 billion. Although environmentalists were alarmed at the potential damage -indeed, smoke often hangs like a gray curtain for days over Sasolburg-people are now prepared to accept the air pollution...