Word: profits
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Dates: during 1950-1959
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...more important was the implication that the Democratic National Committee had made a direct profit out of Secretary Snyder's intervention. Snyder said last week that he had merely wanted to "speed up" a settlement one way or the other, and "never suspected" that $30,000 of Mayock's fee would go to the party coffers. But Mayock said that his contact with Snyder was "political." And a former BIR official testified that in sending down the special ruling, General Counsel Charles Oliphant (a headliner in Tax Scandals of 1951-52) wrote on the document: "This approval applies...
Sallying forth from Tam O'Shanter's modernistic, Muzak-wired clubhouse (228 employees, a rash of bars, a swimming pool), Promoter May made occasional rounds of the course with a happy, proprietary air. Far too lavish to make a profit, the tournament's whopping deficit is being underwritten by May's firm of efficiency experts (680 staffers, $8,000,000 yearly sales), which will efficiently charge it off to promotion and publicity. Onetime Bible Salesman May got into golf because so many of his business prospects were found on tees. His fortunes have not always been...
Most U.S. businessmen learned long ago that the best way to build business is through big volume on small margins of profit. But New York Stock Exchange members, whose lives revolve about the facts of business in general, missed the point when it came to their own offices. Troubled by higher costs in 1947, they raised their commissions. But in the last three years, volume has shrunk from a daily average of about 2,000,000 shares to less than...
...Profits & Risks. This was just a preview of bigger complications yet to come as Sir John tries to unwind a nationalized, $840 million network of 80 steel companies. What, for example, was to be done about the Steel Co. of Wales, owner of the Margam Works, Britain's most modern, comprehensive steel plant? Started in 1947, the plant was not completed until almost a year and a half after Steel Co. of Wales was nationalized. It has $47.6 million in issued capital, but is worth more than $196 million. The difference is borrowed money, which went into finishing...
...mutual-savings banks hit a new high of $23.6 billion. Even farm income, for months the most glaring weak spot in the economy, was off only 5% from last year to $12.6 billion in the first six months. And rosy corporate earnings continued to pour out. Second-quarter net profit of General Motors was $162 million v. $142 million a year ago. U.S. Steel's second-quarter net was $55,640,806, up from $22,218,922 a year earlier. Summing up the effects of the truce on the U.S. economy, Jones & Laughlin Steel Corp. Chairman Ben Moreell declared...