Word: recouping
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Dates: during 1980-1989
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...cost to the banks has been even greater, but they hope to recoup the millions of dollars spent setting up the systems by signing up more and more home-banking customers. According to the American Bankers Association, it costs banks only from 35 cents to 50 cents to process each electronic payment, compared with from 50 cents to $1 for every paper check. Also, as the number of home bankers (and ATM users) increases, banks will require fewer tellers behind windows, enabling them to pare their payrolls. And greater efficiency can be designed into electronic banking systems. Today when...
While a few airlines, notably USAir, have been consistently strong, many are only beginning to recoup the vast losses they endured in the late 1970s and early 1980s. They will need several seasons of robust business to become hale and hearty fliers again...
...play running--from $80,000 to $150,000 a week, not counting TV advertising--that unless the reviews are raves or a large advance sale provides a cushion, skittish investors often decide to cut their losses by closing worthy shows right away rather than struggling to survive and recoup. One sad measure of that impulse came with last week's Tony nominations: of the 17 shows nominated in various categories, three had folded the week they opened...
General Dynamics responded that it had "no idea of the origin of the figures quoted." The Pentagon is undecided as to how it will recoup the money. Said a Pentagon spokesman: "We could continue to withhold overhead payments until the account is filled, or we could ask for a lump payment." The Northrop Corp., a competitor, last week suggested one form of punishment for General Dynamics: to share some of the Government contracts with it. Northrop offered to sell the Pentagon about 400 of its newly developed F-20s, sleek fighter jets it is having trouble marketing, for substantially less...
...were not over. In 1981 the company's own inspectors discovered that workers had neglected to make critical welds in several submarines and covered up the errors with faked welding reports. The fiasco forced Electric Boat to reinspect all the welds and make repairs costing about $100 million. To recoup its loss, General Dynamics decided to turn to, yes, the Pentagon. The company argued that the Navy was liable for paying the repair bill under an obscure but standard clause in the submarine contract that called for the Government to act as an insurance underwriter in cases of worker negligence...