Word: anacondas
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Dates: during 1980-1989
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...Marcor, the owner of Montgomery Ward; Standard Oil of Ohio's $1.77 billion acquisition of Kennecott). Many firms are now unloading some of their unattractive operations. Exxon is trying to sell its office-products business, and Atlantic Richfield recently took a $785 million write-off on its stake in Anaconda...
...level appears to have given way to moral ambiguity and gray areas, where the line between private interest and public responsibility is not always recognized. By and large, traditional power has tended to slip from the grasp of special-interest groups. Pulp and paper companies no longer control Maine; Anaconda Copper has long since closed its "hospitality rooms" in Montana's state capital at Helena; Florida's rural "pork chop gang" must now share power with the arroz con polio and corned-beef crowds, and it has been quite a while since anyone has accused U.S. Steel...
...what we now call New Mexico. But the force of mine blasts has cracked the walls of adobe structures built hundreds of years age. A yellow could of radioactive dust bangs over the reservation, and dust has spread throughout living areas. Inattention to safety levels and elimination began with Anaconda continued when ARCO took curt the company, though the mines also brought money (the Lagunas have never disclosed how much) and improved the education level and the proportion of Indians going to college. Jackpile closed in March of this year as the uranium market worsened, but he health dangers remain...
While OPIC has never lost money, it has paid off some hefty insurance claims. OPIC paid $316 million to ITT, Anaconda and 13 other U.S. firms whose property was expropriated in 1971 by Chile's Salvador Allende, but expects to recover the bulk of that from the present Chilean government. Firms driven out of Iran in 1979 have received an additional $14.5 million from OPIC, whose total liability to them could reach $40 million...
...would not meddle in such deals as Standard Oil of California's $4 billion bid to buy Amax, a producer of molybdenum and specialty metals, Standard Oil of Ohio's decision to buy Kennecott Copper for $1.8 billion, or Arco's purchase in 1977 of the Anaconda Co. The mere mention of such mergers between natural-resource giants would have set an oldtime trust-buster's blood boiling, and even Baxter conceded that his agency would act if the combinations turned out to be blatantly anticompetitive. But then he softened his stance by saying that there...