Word: bigs
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Dates: during 1960-1969
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What is as long as four football fields and big enough to carry three quarts of beer for every American over 18? Answer: any one of four Gulf Oil tankers, each of which can haul 326,000 tons of oil. They share the title of world's biggest tanker-but not for long. A tanker with a capacity of 372,000 deadweight tons (d.w.t.) will float out of a Japanese yard in 1971. Thereafter? Shipbuilders can make a tanker as capacious as anybody wants, but the idea hardly enchants them. They have problems enough building anything above...
...makes it economical for their ships to bypass the blocked Suez Canal and lumber around the Cape of Good Hope to Europe or the Americas. The transport costs run to about 400 per bbl. in a 200,000-d.w.t. ship, compared with 520 in a 70,000-tonner. Each big ship can save a company about $1,000,000 a year in hauling costs...
Commercial bankers were strapped for funds. To discourage borrowing by big corporate customers, the bankers are talking more and more about increasing their 71% prime rate. Roy L. Reierson, senior vice president of Manhattan's Bankers Trust Co., went so far as to suggest that the prime rate ought to be lifted to 10%, if only to "shock" businessmen into holding down spending...
...Lufkin, the 37-year-old chairman of Donaldson, Lufkin and a Big Board governor, is pressing the other 32 governors to approve a change in the constitution, which would then have to be voted on by the 1,366 exchange-seat holders. The exchange has called for a committee report by July 17, and will seek the SEC's opinion. Lufkin does not intend to be put off. His firm's prospectus declares bluntly that if the constitution is not amended, Donaldson, Lufkin will go public anyway. If the stock exchange then drops it from membership, the firm...
...proposed a "Concentrated Industries Act" that would apply when four or fewer firms controlled 70% of an industry with $500 million a year in sales. Each firm would be forced to reduce its share of the market to no more than 12%. The scheme would break up the Big Three automakers, as well as leaders in aluminum, computers and other fields...