Word: anacondas
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Dates: during 1970-1979
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...gambling joints and the whorehouses that once lined "Venus Alley" have disappeared. But the ugliness remains. In the years following World War II, Butte had a raw look because it was a boom town. Today it is shabby because it is dying. For the past two decades, the Anaconda Company's immense Berkeley pit has been slowly nibbling away one section of the hilltop city after another. Now the pit, a gaping, terraced ulcer 7,200 ft. long, a mile wide and 1,500 ft. deep, has begun to eat into the town's business district...
...closed meeting in October 1971, the then Secretary of State, William Rogers, told executives of such American corporations as ITT, Ford, Anaconda, Ralston-Purina, the First National City Bank and the Bank of America: "The Nixon Administration is a business administration. Its mission is to protect American business." That is clearly also the mission of the Ford Administration. Mr. Ford stated publicly in September 1974 his approval of the activities of the CIA in Chile...
...because it was the first elected socialist regime in Latin America, and so aroused the fear that if it was successful there might be a domino effect throughout the Latin American states. Also there was the direct involvement in Chile of such giant U.S. corporations as ITT and Anaconda, both of which have recently negotiated large financial settlements with the Chilean junta: $125 million to ITT, $253 million to Anaconda...
Grant's deficit is not the largest hi American business history-the Anaconda Co., for example, lost $356 million when Chile nationalized its copper mines in 1970, and Penn Central recorded a $560 million loss in 1971-but it is one of the biggest ever posted by a retailer...
Price Boosts. Whatever happens, most experts expect at least a temporary further bulge in living costs following the end of controls. The beginning of that bulge appeared quickly. Last week, U.S. Steel kicked up prices an average of 5.7% on its entire product line. Anaconda, Kennecott and Phelps Dodge jacked up copper prices by 18%, to 800 per Ib. Chrysler added an average of almost 3% to the price of all its cars and trucks, and Westinghouse raised the price of its light bulbs by 10%. Hedonists will be hurt: the newsstand price of Playboy will...