Business: Storm over Surging Profits

A political problem for Carter and an embarrassment for companies

Profits are a little like pregnancy: usually a cause for celebration—but not always. A large increase in earnings brings more complaints than cheers when citizens are up in arms over soaring prices, workers are pressing for higher wages, and the White House is looking for someone, or something, to blame for its losing battle against inflation. In these circumstances, last week's report of an earnings surge created a serious political dilemma for President Carter and a public relations migraine for business.

The Commerce Department's preliminary...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!