Word: profitable
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Dates: during 1960-1960
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...Chinese government reacted with moral lectures ("It is wrong to make a profit out of what is harmful to others") and threatened to ban the sale of rhubarb to Europeans, relying on the firmly held Chinese belief that all foreigners, and especially the English, would die of constipation if deprived of rhubarb's laxative qualities...
...sale of the Times continues the cutback of the Hearst chain since control of the empire passed to Hearst Corporation President Richard Berlin after the death of William Randolph Hearst in 1951. More interested in profits than press power, Berlin got rid of the Chicago American and the Pittsburgh Sun-Telegraph, merged the San Francisco Call-Bulletin with Scripps-Howard's San Francisco News. Says one Hearst executive: "For years our strong papers-Baltimore, San Antonio, Seattle, Los Angeles-have been drained by losing operations. In the last two years we have decided on concentrating our resources in those...
Avery's outspoken intransigence made headlines, but in private he was a well-read, articulate businessman capable of great charm, with a knack for making profit for his companies when all about were losing theirs. The son of a prosperous Michigan lumberman, Avery got his law degree from the University of Michigan in 1894. By 1905, at the age of 31, he was president of U.S. Gypsum. He built it into one of the biggest U.S. building-material suppliers, and, convinced in the late '20's that the U.S. economy was headed for a depression, so prepared...
...performance so impressed J. P. Morgan & Co. that the banking firm asked Avery to take over an ailing Montgomery Ward in 1931. Avery quickly put his rough brand of rugged individualism to work at Ward, in three years turned a $9,000,000 loss into a $9,000,000 profit. Avery's method was to cut costs, introduce higher-priced lines of merchandise for the mail-order chain, because "We no longer depend on hicks and yokels. We sell more than overalls and manure-proof shoes...
...only $600,000 more than the construction cost of its 13-story plant. He pays ad salesmen more than reporters, likes to say "there's nothing in this business that a few thousand dollars worth of advertising won't cure." But along the pathway to profit, Thomson picked up some of the instincts of a newspaperman. Selling the Empire News and getting rid of the Sunday Graphic makes good business sense, but even better newspaper sense : they are members of the British "popular press," which peddles sex and sensation for news. "I could only hope to keep them...