Word: profits
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Dates: during 1950-1959
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...inability to force any new law through against Communist obstructionism, Scelba announced a new attack on the party's purse by the only course left to him-stricter enforcement of existing laws. Principal targets are Communist-run enterprises such as building societies, which are run as businesses for profit, to feed the party's coffers while claiming exemption from taxation as "cooperatives." Another Cabinet decision: Communist state employees will no longer get raises in pay above a certain level, or promotions to high civil posts. Critics wondered aloud why these sensible steps had not been taken nine months...
They have dropped more than that in profits. Last week only four of the seven* Manhattan dailies were making money. Operating in the red were the liberal Republican Herald Tribune; the hard-hitting Republican World-Telegram and Sun, flagship of the 19-paper Scripps-Howard chain; and the banner-lining Journal-American, home paper of William R. Hearst Jr.'s 16-paper chain. The august Times, the sassy News, the Fair-Dealing Post have been making money, and so, reportedly, has Hearst's tabloid Mirror. But all their profit margins are down...
...Reid, who has scrappily run the paper since her husband died in 1947, last week was "very optimistic." In 1946 the paper's profit reached a peak of $1,000,000 after taxes, on a total income of $20 million. Rising costs cut profits to $347,000 by 1949. In 1951 and 1952, said Mrs. Reid, the paper was "slightly on the edge of the red." Last year the Trib counted on a $200,000 profit, but the eleven-day newspaper strike cost it more than $500,000, tumbling the paper into its biggest postwar deficit. This year...
Since the paper's owners view the Times "first as a responsibility and second as a business," the declining profits of the Times are not the major reason for the changes. But the profit margin of the paper, one of the wealthiest in the U.S., has dropped so fast that it is a cause for concern. Last year's strike, said Times Publisher Arthur Hays Sulzberger, cut the paper's earnings to "virtually nothing." The fact that the Times can make money at all is something of a publishing miracle in the face of its overhead...
When Young took over after the bitter proxy war, the road was running some $6,000,000 in the red. Last week he announced that the November profit was $5,400,000. For the year the Central would net up to $5,000,000. The Central, said Young, was now in good enough shape to pay a regular quarterly dividend for the first time since 1931 and he planned to recommend the first payment to the directors at their January meeting. He hoped it would be 50? a share...