I , 1 HE MICHIGAN DAILY
Thursdaj, February,:-] 2, 1976
Pge Two I HE MICHIGAN DAILY Thursday, FebruQry 12, 1976
As essential as pro its are to the survival of our way of life, I know
of few subjects so universally misunderstood. And a recent
nationwide survey indicated that misconceptions about profits
are increasing. Obviously, business is not getting the message
through. The time is long overdue for some old-fashioned
By putting profits to work, companies build new factories,
modernize existing facilities, enable Americans to compete with
manufacturers abroad and-most critical-create jobs for our
people and opportunities for future generations. The company
that doesn't make a consistent profit year in and year out withers
and disappears, and so do the jobs of its employees.
Most experts agree that our economy will need at least $4
trillion in new capital during the next 10 years. Unless we plan'
to convert to socialism-and we certainly don't want to do that-
a good part of it will have to come from corporate profits. Yet,
contrary to what most Americans think, corporate profits
have been shrinking. Today, the rate of profit by U.S. corpora-
tions is about 5% on sales, less than it was a decade ago. If
profitability continues to shrink, we can look forward to an era
of diminished economic growth and fewer jobs.
And when there is less profit to tax, our federal, state and local
governments cannot obtain the revenues needed to carry out
public programs, and the goals we have set for our society will
be seriously threatened.
Our company-Allied Chemical-is a good example of profits at
work. From 1970 to 1974, we earned net profits of $436 million
and plowed back $258 million into business expansion and
job-creating activities. That's about 620 of every dollar we earn.
But this creative reinvestment of profits is only part of the story.
Businesses that are profitable provide much of the support for
public spending. During this same period, our company paid
more than $382 million in taxes. Our employees paid
taxes from their wages, and our stockholders paid taxes on
their dividends. So, profits are continually recycled for
During the next few months we will be talking publicly about
corporate profits-because we are convinced that an under-
standing of this subject by our people is vital to protect America's
quality ofllife. We invite you to read these messages and to
let us know how you feel about our viewpoint.
CONGRESSIONAL REPORT LEAKS:
CIA causes S oviet intervention
(Continued from Page 1)
favor of its clients," the com-
mittee said, according to the
MEANWHILE, as the House
Intelligence Committee went out
of business in Washington yes-I
terday, CIA director George
Bush agreed to one of its recom-
mendations by ordering removal
of any full-time or part-time
U.S. journalists from the
The CIA announcement said1
first that the agency has "no
secret paid or contractual re-
lationship with any American,
clergyman or missionary" and
that "this practice will be con-
tinued as a matter of policy."
Then it said a similar ban
would apply to "any full-time
or part-time news correspon-
dents accredited by any U.S.
news service, newspaper, period-
icals, radio or TV network or
THE PREVIOUS director, Wil-
liam Colby, said the United
States no longer used full-time
journalists as agents but would
continue to rely on part-time
m their works
b. 12-7:30 p.m.
reporters or stringers. Bush;
said the CIA would still welcome
voluntary assistance from re-
Until mid-summer of 1975, the$
report quoted by The Voice said,
most of the money went to Hol-
den Roberto, leader of the Na-
tional Front for the Liberation
of Angola (FNLA).
After that the money was ai-
vided between Roberto and
Jonas Savimbi, head of the
National' Union for the Total
Independence of Angola (UNI-
TA), it added.
OF THE CIA'S $31 mi~lion
figure, said to represent spend-
ing to the end of 1975, half was
said by the CIA to have been
spent on light arms, mortars,
ammunit.onvehicles, boats and
commurlication equipment. Thel
balance includes shipping ex-'
penses and cash paymens.
According to the publishied re-
port, an accountant appointed
for the committee believed that
the CIA's ordnance figure s'iould
at least be doubled.
"The Committee has reason
to question the accuracy of
CIA's valuation of military
equipment sent to Angola," the
report quoted in The Voice said.
IT SAID that the accountant
"has determined that CIA 'cost-
ing' procedures and +he use of
surplus equipment have resulted
in a substantial understatment
of U.S. aid."
The published report said
"laterhevents have %uggested
that this infusion ofU.S. aid,
unprecedented and massive in
the underdeveloped colony, may
have panicked the Soviets into
arming their MPLA clients, who
they had backed for over a
decade and who were now in
danger of being eclipsed by the
"Events in Angola took a bel-
licoseeturn as.the U.S. was re-
quested by President Mo4,utit (of
Zaire) to make a serious mili-
tary, investment, (in tha Winter
THE COMMITTEE, according
to the text in The Voice, also
questioned Secretary of State
Henry Kissinger's m~asons for
the intervention. These were
listed as the +Soviet' ,presence,
U.S. policy to encourage .mod-
erate independence groups in
southern Africa, and U S. in-
terest in promoting the stabiity
of President Mobutu and cther
leaders in the area.
Have You Just Been
Kicked Out Onto
John T. Connor,
" , ,
., / ' I /
The committee said it was
puzzled about U.S. ooposition to
the MPLA as testimony indicat-
ed there were scant i'kological
differences amoig the three fac-
But it said that past support of
President Mobutu made it
equally likely that the para-
moat factor in U.S. involvement
was Kissinger's desire to reward
and protect African leaders in
Then It's Time To Think Where You Are Going To
Live Next Year.
Then It's Time To T h i n k About UNIVERSITY
Phone Us At 761-2680 For Information On Our
Services and Our Rates. We're Located at 536 South
ORIGINAL ART POSTERS
Probably not. All things considered you do
what you do pretty doggone well. After all, no one
has taken your job. And you're eating regularly.
But have you ever considered what doing your
job just a little better might mean?
Money. Cold hard coin of the realm.
If each of us cared just a smidge more about
what we do for a living, we could actually turn that
inflationary spiral around. Better products, better
service and better management would mean savings
for allof us.Savings of much of the cash and frayed
nerves it'scosting us now for repairs-and inefficiency.
Point two.By taking more pride in our work
we'll more than likely see America regaining its
strength in the competitive world trade arena. When
the balance of payments swings our way again we'll
all be better off economically.
So you see-the only person who can really
rdo what vou dnany better is vou.
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other works by the same artist.
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