Word: cargos
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Dates: during 1960-1969
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Among the world's ailing industries, few are hurting worse than shipbuilding. The demand for shipping that was whetted by the new Persian Gulf oilfields faded abruptly in 1959, when the U.S. put quotas on oil imports. Result: a worldwide glut of cargo space. To glean what new orders there are, the big U.S. and European shipyards have had to slice deeply into their profits to come up with low bids, but they are still losing ground to the front-running, highly efficient and low-paying Japanese...
...made himself the nation's largest private shipowner, one of its biggest brewers, a major power in banking and insurance, and boss, in all, of more than 100 companies. Next week the baking powder baron is due in New York to inspect the Columbus Lines (18 cargo ships), which he bought from Du Pont five years...
...Peculiar Group." In an effort to duck taxes, he turned to building and refurbishing cargo ships, an operation which the West German government, eager to restore its war-torn merchant marine, made completely tax deductible. Oldtime Hamburg shipping men scornfully dubbed Oetker's armada the "baking powder fleet," but through astute management his fleet of 67 tankers and freighters has kept busy without resorting-as some German shipping companies have-to running Soviet-bloc cargoes for Castro. Characteristically, Oetker got into the insurance business to pare his premiums, built his Condor companies into one of Germany's biggest...
...less than Bethlehem Steel's Sparrows Point plant, it is the British Commonwealth's biggest steelmaker, with sales of some $413 million in the last fiscal year. Through 16 subsidiaries it makes everything from nails and rails to tools and tars, operates a fleet of 14 cargo ships and a shipyard, and is probing for oil off the Australian coast...
...Army recruits (TIME, Nov. 17), the resulting clamor touched off a long overdue investigation of the nation's nonscheduled airlines, which last year flew 1.5 billion passenger miles v. 39.8 billion for the scheduled lines. Burgeoning after World War II as ex-military pilots bought dirt-cheap surplus cargo planes, the nonskeds grew like weeds and were treated with an air of benevolent indulgence by the federal regulatory agencies. Politicians championed the fare-cutting nonskeds as the little guys who were fighting the big guys, e.g., the scheduled airlines; in 1958 Congress passed a bill which, in effect, gave...