Word: asset
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Dates: during 1960-1969
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...Only ten years old, Willys-Overland do Brasil is already Brazil's largest private corporation, boasts 10,000 employees and last year accounted for nearly one-third of the 144.000 cars and trucks produced in Brazil. But in a country racked by nationalistic growing pains, it has an asset far more important than size. Most U.S.-backed companies in Brazil are wholly-owned subsidiaries, and their top executive ranks are closed to Brazilians. Willys is only 49% owned by the U.S.'s Kaiser Corp. The remaining 51% of its stock is held by 48,000 Brazilians and Managing...
Dean DeLamater is starting on a shoestring budget of $57,000, derived entirely from student fees of only $570 a year. What makes this possible is his big hidden asset: the 300 or more U.S. professors who descend on Paris each year for research and sabbaticals. They can be had for part-time teaching at such modest fees that American College is opening with 15 seasoned scholars, including Dartmouth Sociologist George Theriault, Holyoke Government Professor Claire Doubrovsky and Cornell's African expert, Political Scientist Elizabeth Landis...
Locked Doors. One way to achieve this would be to let city banks spread out, through branching and mergers. In California, where banks are free to branch all over the state, the Bank of America has spread an umbrella of more than 700 branches, built its asset base up to $12.7 billion to make itself the largest bank in the nation (though it makes fewer loans to business than the Chase). But in New York, state laws long kept the big metropolitan banks cooped up within the five boroughs of New York City, forcing them to look on helplessly...
...blessing of geography and the pugnacious foresight of Teddy Roosevelt gave the Republic of Panama its No. 1 asset-the Panama Canal. Under a historic treaty, signed in 1903 and renegotiated in 1955, the U.S., which has spent more than $1.5 billion to build and improve the canal, retains control over the vital Atlantic-Pacific seaway "in perpetuity." This point has long galled the nationalistic Panamanians and has touched off anti-American riots throughout Panama...
...record $8.9 billion to nearly $346 billion. Other investors, reluctant to leave the excitement of the market altogether, have been turning to mutual funds in the hope that professional investment management will see them through. But the fund managers have not done so well, either: since December, the asset values of 15 of the 20 biggest U.S. mutual funds have dropped even more sharply than the Dow-Jones average. (But of the top five funds. Investors Mutual. Wellington Fund and Affiliated Fund did better than the average...