Word: refunds
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...year earlier) gave the world's biggest oil company its first yearly earnings dip in five years. Healthy fourth-quarter gains were run up by International Business Machines ($2.17, v. $1.86 in 1956), which had a record profit year, and Westinghouse Electric Corp. ($1.11, excluding a special tax refund, v. $1.07). Though the earnings trend was down, such surprisingly strong showings in the face of the business slump gave hope to investors that in 1958's first quarter, many companies may feel the recession less than expected...
...noninflationary" profit-sharing plan; under this, all company profits (before taxes ) in excess of 10% of capital invested would be sliced up to give 25% to employees (other than executives) and to refund another 25% to auto buyers as rebates...
...Executive Board of the Harvard Law School Forum has voted to refund the admission price to ticketholders unfairly denied admittance to Aneurin Bevan's speech of Nov. 1. The mixup occurred when unruly students without tickets rushed the gate...
...Treasury is often unable to take advantage of fluctuating short-term interest rates to refund big amounts of the debt lest it go through the ceiling, must often borrow at times during the year when seasonal demands of business make money tightest and most expensive. Another problem is that such independent borrowers as Fannie May usually cost the U.S. more in the long run. With a lower credit rating, Fannie May pays an average 3.96% interest for the money it borrows v. an average 2.78% for the Treasury itself. The ceiling also costs the U.S. money in departments that have...
...TIME, Aug. 5), G.M. has jittered at the prospect of a court case and possible bad publicity. Last week Louisiana's F. Edward Hebert, whose House Armed Services Subcommittee had brought out the original charge, announced that G.M. has moved to settle with the Government. It offered to refund a total of $9,701,458 to the Air Force. Already in the hands of the Air Force is a check for $2,400,000 to cover one section of the contract. G.M. also wants credit for another $2,600,000 of the total that has been paid in corporate...