Word: alcoa
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Dates: during 1960-1969
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...Portugal. Merchant bankers are the business world's greatest merger brokers and proxy fighters. Nobody profits more from this than London's Siegmund Warburg, German-born dollar scion of the 400-year-old banking clan, who in 1958-59 counseled Reynolds Metals in its successful fight with Alcoa for control of British Aluminium Ltd. So highly is Warburg's advice valued that he is retained simultaneously by Britain's two leading press tycoons, Cecil King and Roy Thomson...
...effects are even more pronounced in aluminum, because this is a lightweight war; the Pentagon is using proportionately much more aluminum than in Korea. Washington has ordered aluminum manufacturers to "set aside" 13% of their production for defense use. The largest producer, Alcoa, estimates that defense orders will jump from 10% of the industry's total output last year to 20% this year. At Government request, Alcoa is building an additional plant at Rockdale, Texas, and has its big extrusion presses at Lafayette, Ind., working round the clock on defense items. Civilian customers have to wait as long...
...Venice, a tawdry oceanside spot ten miles to the south. The county's 75 other incorporated cities may be either outlying areas or, like opulent Beverly Hills, an enclave within the central city. Most U.S. cities have a single downtown core, but Los Angeles has dozens, such as Alcoa's new Century City complex in West Los Angeles, or a new behemoth shopping center in the San Fernando Valley...
Hedged & Soaring. The new hotel is the latest and liveliest addition to Century City, Alcoa's huge, 180-acre project on the edge of Beverly Hills and 14 miles northwest of downtown Los Angeles. The land-which, as 20th Century-Fox's back lot, used to bristle with cowboys and Indians, and before that was Tom Mix's ranch-cost $43 million. So far, Alcoa has spent an additional $160 million for the hotel, two 13-story office buildings, a big shopping center, and a pair of I. M. Pei-designed apartment towers, billed as "Your prestige...
...prime complaint centers on what Chase Manhattan Chairman George Champion calls "government by guide line." Alcoa President John D. Harper and Inland Steel Chairman Joseph L. Block are just two of the many corporate chiefs who argue that the wage-price guides are unworkable and unfair in that they are applied unevenly and have not prevented wages from soaring in industries as varied as construction and textiles. Though he endorses many of Johnson's other policies, Gaylord A. Freeman Jr., vice chairman of the First National Bank of Chicago, criticizes the guideline policy because "it's not good...