Word: refundability
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Profitability is the bottom line of that performance. The Coop's sales last year totaled more than $37 million, and its members received a 9.5-per-cent rebate on their purchases. Although the cooperative society must provide this patronage refund to its members, it is entitled to invest its profits from non-member sales into plant, stock, equipment and, inevitably, further expansion. The Coop's formula for successful enterprise is actually quite simple: The establishment exploits the laws of supply and demand to charge high prices for the products it sells while profiting from its limited outlays to labor...
...money came from a $100 million settlement that he had negotiated with the Amoco division of Standard Oil Co. of Indiana in February 1980 for allegedly overcharging customers. Under the agreement, Amoco placed $71 million into a special claims fund and was supposed to refund $29 million to utilities, railroads, bus lines and other major patrons. After reimbursing its clients, however, Amoco had $4 million left over, so the company sent a check for that amount to Bloom's office...
...service provides students with a print-out of scholarships, Loans, and work study sources they might qualify for. Danz said the present refund rate is 3 per cent...
Jeffrey B. Matthew '81, one of the students who sued HDNS last year, said yesterday he will again demand a replacement-cost refund...
...Needless to say, it's the same old story," he said. "I don't understand why we're not allowed to get better service--either you use HDNS or you don't get a paper, and that's unfair," he added. Smith said he "has not thought about" a refund policy for this year...