Word: profits
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Dates: during 1960-1969
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Unloading at the Right Time. In June, McDonnell gave notice that it had sold its Douglas common during the first quarter of 1966, around the time that it reached its peak of 112, reaped a net profit of $2,600,000. But by last week, after the stock had nosedived to 30, then looped back up past 40, sources close to both companies estimated that Mr. Mac and closely associated "interests" had between them amassed 800,000 Douglas shares out of 5,200,000 outstanding. Reportedly, McDonnell himself now owns between 200,000 and 300,000-at least 20 times...
...Eisenhower's chief economic adviser. "If the purpose of a tax increase is to cool off the economy, such a process is already under way without it," he told a bankers' conference in New York. "With the scope of economic expansion narrowing, with labor costs rising, with profit margins shrinking, with construction costs high and running well above investors' estimates, with the stimulus of the investment tax credit suspended, with the stock market weak, with uncertainty about taxes widespread, and with the business and investing mood gradually becoming less exuberant, powerful additional forces are now operating...
Promised Support. King Hussein warned publicly that much of the agitation against his regime was being stirred up by Communist agents, who hope to profit from his downfall. To protect Jordan against its Arab neighbors as well as against Israel, the U.S. is considering a shipment of armored vehicles and antitank weapons to Jordan's army in addition to the 36 F-104 Starfighter jets it has promised. The key question, of course, is whether the Jordanian army will continue to stand behind Hussein in the face of mounting troubles. Should it even waver, the King's enemies...
...Infighting. A dark-haired daughter of a Marseille family, Mile. Charles-Roux, 44, was raised in Italy, where her father was French Ambassador to the Vatican. Like the long-forgotten works of other postwar mandarins, her novel berates the crass profit motive in the U.S., speaks of "the grip of money on each face." One episode tells of "Babs," a leggy New York career girl and Fair staffer who marries an Italian-American political boss and goes with him to Sicily, where women have a considerably different role from the one she is accustomed to. The narrator is Gianna, another...
...deal it would be if I could turn that company around." Last week, reporting A.M.C.'s 1966 operations as the auto firm's principal stockholder and its chairman since June, Evans showed that American has farther than ever to turn. After a modest $5,200,000 profit in 1965, the company came out with a $12.6 million loss for the fiscal year ended in September - and in the red for the first time in nine years...