Word: billions
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Dates: during 1970-1979
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...troubled company lost $204.6 million last year but topped that in this year's second quarter alone, when it ran $207.1 million in the red. Faced with the possibility of a shattering loss of more than $500 million for 1979, Chairman Riccardo held out the hand for $1 billion in federal...
Still, Chrysler's working capital -the difference between current assets and current liabilities, which is one measure of its ability to pay its bills from its own resources-has dropped from an acceptable $1.1 billion early this year to a weak $800 million in June. The figure now is still lower, and stock analysts predict that it could shortly fall below $600 million. That would violate the fine print of the company's 1977 revolving credit agreement with some 180 banks and could place it in technical default on $567 million in debt...
...biomass," which includes wood, plants and other organic matter. The chapter's supposition is that rising costs of fossil fuels will make the installation price of solar heating an extremely attractive investment to homeowners, yielding as much as 17% annually. Although the Harvard researchers propose more than $1 billion in Government subsidies for research into high-technology solar devices, such as sun-deflecting satellites and photovoltaic cells, they assert that "new technology is not required to realize solar's potential...
...development of synthetic fuel. For a country boycotted by most of OPEC and without its own oil reserves, necessity has fired innovation. Sasol now provides less than 10% of the 240,000 bbl. a day of oil that South Africa requires, but the country is spending $6 billion to build two more Sasol plants, which are expected to meet about half of its needs by the early 1980s...
South Africa was early to capitalize on its coal resources, estimated to be 25 billion tons, or about one-seventh of the U.S.'s total. In 1950, the South African Coal, Oil & Gas Corp., known as SASOL, was formed and by 1955 Sasol gasoline was being sold. The state-owned company, which charges just over $2 per gal. of gas, began showing a profit in 1973 and last year had pretax profits of $140 million on sales that totaled close to $ 1 billion. Although environmentalists were alarmed at the potential damage -indeed, smoke often hangs like a gray curtain...