From a historical level of losses, before the plan of arrangement, the company began to report sustained and consistent profits under new leadership.

It has been generating cash flow of about $400 million a quarter, but, as Mr. Parker put it, "sustained profits have been elusive."

Now investors appear to think that there are too many shovel vendors and that the biggest, sustained profits will be from the gold itself.

Unfortunately, however, "the one thing [the consolidated firms] lacked, individually and collectively, was a realistic prospect of earning sustained profits."

Like all investors, she wants sustained profits from the companies whose stocks are in the city's portfolio; unlike most investors, she has the power to put pressure on company directors.

But it has yet to prove that in can make sustained profits on its more mundane products, like Caloric stoves.

But sustained profits have eluded Tofutti in its field.

The free daily newspapers that do exist have struggled to make sustained profits.

Whatever the case, these sites continue to experiment with new approaches in an effort to achieve sustained profits, much like the sites they track.

"We are confident that under Bill's direction, Equicor will generate sustained profits for both parent companies," said John B. Carter, chief executive of Equitable Life.