Word: profits
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Dates: during 1950-1959
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Last week the airline also had good news for the British government, which owns it, and which has been stuck with yearly losses as big as $33 million. BOAC Managing Director Whitney Straight reported that in the fiscal year ended in March, BOAC would probably show a net profit of about ?500,000 ($1,400,000), the first profit in its history...
Whisky Parlay. The taxpayer, Hyman Harvey Klein of Los Angeles, was revealed as another of the financial wonder workers who are turning up in Washington these days. Klein testified that in 2½ years he parlayed a $1,000 investment into a $5,000,000 profit, through a brisk import business in Canadian whisky. His troubles began in 1946 when the Government charged him with black-markeeering and tax fraud. In 1948, the BIR, afraid that he would skip the country, slapped a $7,000,000 tax lien on his assets...
...last week, the Northern Pacific stock, for which Ohio Match had paid $4,715,000 in 1950, was selling at a market value of $15,577,000, a paper profit of $10 million, or about $10 for each, of Ohio Match's own 946,740 shares of common stock...
...hour shift. In 1950 Perelle cut the losses to $124,000, and rearmament brought along some $25 million in Government orders for buses and in subcontracts. Last week Perelle proudly reported that in 1951 Brill's sales rose 88%, to $23.6 million, and the company turned in a profit of $2.5 million after taxes, the biggest ever, and kept rising in 1952's first quarter...
...annual report last week, General Motors showed the drastic effects on it of the defense program. Though 1951 sales of the world's biggest manufacturing corporation were off only 1% to $7.4 billion, G.M. reported that its net profit was down 39% to $506 million. Reasons for the drop were higher taxes plus curtailed civilian output, higher costs while car prices were frozen, and a bigger volume of lower-profit defense work. G.M., which has long been in the billion-dollar class in sales, is also in a billion-dollar class of another sort. Last year its tax bill...