Word: profits
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Dates: during 1960-1969
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James Leroy Hutchinson, 21, was a whole bouquet by himself to New York's flower people, a tattooed drifter full of love and laughter who turned on to every stimulant-from simple, undrugged fun to crystallized "speed" (methedrine, a high-powered amphetamine), which he occasionally sold for profit. Hippies called him "Groovy." Linda Rae Fitzpatrick, 18, was the daughter of a Greenwich, Conn., spice merchant, a blonde and dreamy-eyed dropout from Maryland's exclusive Oldfields School. Alienated by whatever obscure forces from her parents-both of whom had previously been divorced -she had traded the security...
While overall corporate profit margins have been squeezed this year between rising costs and idle industrial capacity, brokerage profits have soared along with stock trading volume. At the New York Stock Exchange, which accounts for 80% of U.S. activity on registered securities exchanges, this year's trading two weeks ago topped the old full-year record, which had been set in 1966. Last week the 1,964,637,-738th share changed hands on the Big Board, lifting its average daily volume for the year to 9,862,277 shares. If that fast pace continues, along with increasing activity...
...Rebound. As a result, the SEC predicts, stockbrokers' total revenues will rise from about $4 billion in 1966 to $4.5 billion this year. The SEC figures that income from commissions on security transactions should come to $2.7 billion, and profit to be divided on that income between partners, brokers and salesmen should reach $675 million, compared with $600 million in 1966. Moreover, with stock trading hitting a furious pace, SEC analysts expect a sharp rebound in the industry's aftertax profits on its main business of securities trading, which slipped from 5.8% in 1965 to 5.7% last year...
...Shell managing director, F. S. McFadzean, "the Selective Employment Tax and another scheme known as the Regional Employment Premium reward hiring more labor at the plant in spite of the subsidy it already has for laborsaving equipment-and somebody else pays for it in higher taxes." He adds: "Profit is still a dirty word with this government...
...attach unbolted metal sheets to the frames of jets, along with precision sheet metal and containers. A quick and drastic surgical job was essential if the company was to be saved. The container division was eliminated. Managers' salaries were cut by 25%, and a bonus based on profit was substituted...