Masaru Kakutani, a director of the Tokyo branch of Moody's, a credit-rating agency, reckons that by the turn of the century some big companies will have to spend a quarter of their operating profits on pension contributions.
It was Aetna's first profitable quarter, after a string of losses and its second consecutive quarter of operating gains.
The pace of business spending, combined with strong consumer demand, led to another quarter of operating margin expansion and solid earnings per share growth".
Corinthian Colleges Inc., which owns Everest College, devotes about 63percentt of operating expenses to educational services, and almost a quarter of its operating costs on marketing and recruiting.
Philip Morris benefits greatly from its Kraft Foods division, which represents about a quarter of its operating income.
Air India spends over a quarter of its operating revenue on employees' pay and benefits; Jet Airways, a domestic rival, spends a tenth.
Even so, horse owners recoup less than a quarter of their operating costs, far less than in France, Japan and America, reckons Wray Vamplew, of Stirling University.
Charles L. Schearer, president of the private Transylvania University in Lexington, Ky., said the endowment there, which finances about a quarter of the operating budget, had lost 28percentt of its value since June 2007.
AN ARTICLE in this week's Economist looks at the problems bedevilling Air India, which has not made a net profit for six years.Air India spends over a quarter of its operating revenue on employees' pay and benefits; Jet Airways, a domestic rival, spends a tenth.
