Word: profitable
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Dates: during 1960-1960
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...Loudon's visas add up to a record of accomplishment. In Venezuela, where he was once the Group's manager, he is credited with persuading the company to become one of the first (along with Créole Petróleum) to adopt the new fifty-fifty profit plan later adopted by the entire oil industry. In Iran, he helped head the international consortium in negotiations in 1954 after Premier Mossadegh nationalized the oil industry. Generally, Loudon prefers to leave most of the on-the-spot negotiating to local managers. Says he: "By comparison, they are certainly more...
Price Cuts? With plenty of competition and the worldwide glut in oil, why doesn't the price of gas and oil drop? The answer lies in the clubby nature of the oil industry. The majors simply do not believe in price cutting - which directly slashes their profits - and make common cause in avoiding it whenever possible. Their philosophy is that if one company cuts prices broadly, all will have to follow - and no one will end up with a competitive advantage. Says Loudon: "You can't build your share of the market with price cutting...
...many a young golfer sells shares of himself to backers who pay him around $200 a week, take back most of his earnings for the first few years. One notably sound investment: Billy Casper, who got an allowance totaling about $24,000 during a two-year period, paid a profit...
...expenses in buying premium steel during last fall's strike, spent millions tooling up to produce the Valiant compact and to convert body shops to the new unibody construction. But now sales are climbing, reported Colbert, and all divisions, even high-priced Chrysler Imperial, are operating at a profit. Chrysler's share of the market: 16.1% in March v. 14.4% in January...
...completed. Dowling's City Investing has pumped another $1,000,000 into an international research building for other companies to try on a rental basis before making a full commitment. Next week, to lure more potential customers to view Sterling Forest -and incidentally turn a tidy tourist profit-Dowling will open the world's most lavish tulip garden with 1,500,000 bulbs planted over 125 acres...