Word: profitted
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Dates: during 1970-1979
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...companies did engage in some shortlived and frantic price gouging. That happened when OPEC prices began their dizzy upward spiral and the companies marked up the selling price of imported oil that had been brought into inventory before the prices rose. As much as $5 billion in windfall profits resulted. This happened at a time when the rest of the economy was plunging headlong into the worst economic downturn since the 1930s, and such cynical profit taking gave the oil companies a black eye. Few can forget how, in their annual reports for 1974, the oil companies showed hefty increases...
...seems to get quite as sore when other industries achieve such profit increases. But the aftertaste of this episode has inspired the industry's critics to charge that the oil companies have made price gouging a way of life. Moreover, it is a fundamental reason why both President Carter and his Energy Secretary, James Schlesinger, continue to insist that the oil companies cannot be trusted to put the nation's interests ahead of their own. They argue that domestic oil prices, which are today set at a Government-regulated price of about $8.52 per bbl. as a result...
...about the Japanese invading their home markets. U.S. steel companies have a special problem: many of their mills are old and inefficient by European and Japanese standards, and they are burdened by high labor costs as a result of generous wage boosts granted to workers. One result: third-quarter profit reports of American steel mills, to be released next month, are expected to be among the worst in the history of the once proud industry...
...alone were estimated at close to $6 million. He turned for help to Britain's National Enterprise Board, a government agency that provides investment funds for private companies. To get needed capital, Sinclair agreed to cede control of his company to the NEB until his firm makes enough profit to pay back the agency...
Much of that profit will have to come from sales of the tiny TV, and the make or break test will come during the Christmas shopping season. Sinclair remains supremely optimistic. Beginning in November, he will double production of the sets to 4,000 a month-half of them scheduled for shipment...