Word: worth
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Dates: during 1950-1959
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Spaghetti & Soccer. A self-made shipping tycoon (estimated worth: $100 million), blue-eyed Achille Lauro first burst into Italian politics in 1952 when he was elected mayor of Naples. Since then he has spent an estimated $4,000,000 of his own money and run up the biggest civic debt in Italian history ($160 million), giving his fellow townsmen spaghetti, circuses, repaved streets, and a first-class soccer team. (Mayor Lauro cheerfully forked over $200,000 to sign up one Swedish soccer star for Naples.) The Neapolitan crowds love him; opposition politicians consider him a gold-plated clown...
...five original companies backing the line, headed by Texan Clint Murchison, invested some $15 million in stock at the insiders' price of $8 a share. These holdings are now worth $43 a share, or $82 million. Influential speculators got big chunks of the $37.5 million public issue, which is now worth $161 million. Fantastic speculative profits were also made in three companies set up to gather or distribute the gas Trans-Canada will bring. Vancouver Oilman Ralph K. Farris, son of a Liberal Senator and founder of the Northern Ontario Natural Gas Co., paid $300 for stock now worth...
Matter of Ethics. Kent and Borghild Hooper, who had learned about the press and TV during their ordeal, called in reporters. In the resulting uproar, Kris explained: "The time I put in was eight full days and close to 100 hours. My time is worth $30 an hour. I've given the service. It was a personal sacrifice to me." Furthermore, he thought he was merely following the widespread medical practice of charging (within limits) what the traffic will bear: he had heard that the Hoopers had got a lot of money in donations. Not so, retorted the Hoopers...
BIGGEST ANTITRUST FINE levied against single defendant under present laws was slapped on Safeway Stores Inc., second largest U.S. grocery chain (after A. & P.). Federal District Court in Fort Worth fined Safeway and its executives $187,500 after company did not contest charges that 150 of its stores in Texas and New Mexico sold groceries below wholesale cost to run out competitors in 22-month price...
...tough competition for contracts, in which a penny's difference in the cost of moving a yard of dirt can be the margin between profit and loss, road builders must use all the machines - roughly $1 worth of equipment for every dollar's worth of earth moved (about 3 cu. yd. at current costs). On modern highways an average of a million cu. yd. a mile is moved...