Word: bechtel
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Dates: during 1990-1999
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...more than an expensive toll road. The latest version of this anxiety adds a national security tweak: fear of China. In 1997, the Panamanian government finalized a rich deal with Hutchison Whampoa Ltd., based in Hong Kong, to run two ports near the entrances to the canal. American-owned Bechtel lost out to Hutchison under a less than transparent bidding process...
...Stephen Bechtel, construction magnate --Leo Burnett, advertising genius --Willis Carrier, maker of air-conditioning systems --Walt Disney, creator of animation and multimedia empire --Henry Ford, founder of Ford Motor Co. --Bill Gates, co-founder of Microsoft --A.P. Giannini, architect of nationwide banking --Ray Kroc, hamburger meister --Estee Lauder, cosmetics tycoon --William Levitt, creator of suburbia --Lucky Luciano, criminal mastermind --Louis B. Mayer, Hollywood mogul --Charles Merrill, advocate of the small investor --Akio Morita, co-founder of Sony --Walter Reuther, labor leader --Pete Rozelle, football-league commissioner --David Sarnoff, father of broadcasting --Juan Trippe, aviation entrepreneur --Sam Walton, Wal-Mart dynamo...
...should have given more than just a mention to engineer Stephen Bechtel's monumental achievement in creating the entire municipality of Jubail, Saudi Arabia. It cannot have been easy to construct on the edge of the desert out of thin air. KHURRAM AHMED TAJI Islamabad, Pakistan...
...company Bechtel built is not universally loved. One partner in the wartime shipyards was John McCone, a steel executive who later became CIA director. He came early in a long line of men who filled high offices alternately in Bechtel and the Federal Government (most notable: George Shultz and Caspar Weinberger). That led to charges of undue influence--by whom on whom was never quite clear. The company's penchant for secrecy didn't help its reputation either. In 1976 the Justice Department charged that Bechtel had gone too far to please Arab clients by blacklisting potential subcontractors who dealt...
None of that has prevented the company, now headed by Riley Bechtel, a grandson of Steve's, from flourishing mightily. When Steve Sr. took over, Bechtel had revenues of less than $20 million; a quarter-century later, when he officially retired, sales were $463 million. The company, still family controlled, had 1997 revenues of $11.3 billion; its projects range from a transit system in Athens to a semiconductor plant in China. These and others are fruits of Steve Bechtel's forward thinking--decades before the term global economy became a cliche...