Word: steeping
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Dates: during 1970-1979
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Labor leaders and some Democrats argue that current profits are steep enough. They point out that the recovery has been slow going for everyone, not just investors who relish high corporate earnings. Furthermore, thanks to tax breaks granted to business by the Nixon Administration, corporations have more money available for reinvestment and expansion than just the profits that they report to stockholders. By taking advantage of the accelerated-depreciation program, a firm can increase its cash flow with funds deferred from current taxation. Finally, there is a basic question of income equity. Profits are advancing at a much faster rate...
...Engine. On the other side, businessmen maintain that, far from being too steep, the rate of profit gain in the current economic recovery is low by past standards. Earnings have rebounded by only 18% in the past year and a half-the slowest comeback, by most measures, that has followed any recent U.S. recession. Average after-tax profit margins are today running at about 5% of sales, whereas they hit 7% during the boom years...
Last week, fully realizing that his candidate is not exactly a hero to most bigtime political donors anyway, Kimelman was somewhat distressed over the revelations about Senator Thomas Eagleton's mental-health history. Should McGovern be able to overcome the increasingly steep odds and manage to bankroll a winning campaign, his own Henry the K will probably deserve the ambassadorship that he admittedly covets...
...skiing has demonstrated its greatest appeal. In the past four years, 300,000 persons have driven the long dirt road that winds past lush palm, orange and banana trees to get to the President Medici Ski Station in the southern town of Garibaldi (pop. 8,000). There, on a steep hillside, are two plastic-covered ski runs, four chalets and a 40-chair lift...
...host of other agencies. Much of the work falls to private police hired by the pier owners, but many owners are afraid of reprisals from dock workers if they crack down on pilferage. Importers, exporters and wholesalers often fail to report thefts for fear of being hit by steep insurance-rate increases. Says a top shipping broker: "Any stevedore caught pilfering in Philadelphia or other ports is blacklisted by his union, but in New York both labor leaders and owners look the other...