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Salient. Victoria University Student Newspaper. Vol. 37 No. 3. March 20, 1974
The rich get richer
The rich get richer
New York (LNS) — While the economic squeeze is on against most wage earners and small business people, the giant corporations enjoyed fantastic business profits during 1973.
Despite the dollar's sagging value, the falling stock market, and rampant inflation. Standard and Poor's Corporation Report for the first three months of 1973 discloses these sample figures:
- The Chrysler Corporation is not being slowed down by gas shortages: profits are up over last year by 150.8%;
- Honeywell, the company that makes many of the anti personnel bombs for the Indo-China war has increased profits by 43.6%;
- Profits at EXXON, despite ( or perhaps because of) the fuel shortage are up 43.1%;
- Crown Zellerbach's profits are up 197%;
- Weyerhauser's profits jumped 168.1%;
- Georgia-Pacific enjoyed a 89.7% profit increase.