Word: cartelism
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Gulf is also enmeshed in a web of lawsuits growing out of allegations that it secretly participated in a worldwide cartel to manipulate supplies and raise the price of uranium. Though the cartel's impact on U.S. prices remains uncertain, the world price of uranium has gone from $6 a pound in 1972 to about $44 today. At worst, Gulf, which denies the charge, could be forced to pay $1 billion or more in damages to companies in the uranium business. McAfee predicts that, at most, the various court actions could cost Gulf no more than $360 million. Last week...
...gets a lift from its high level of repeat travelers. British travel agents voted SIA "airline of the year" in 1977, and a survey of 500 agents in the Asian-Pacific region placed it first in the area. The line does not belong to the International Air Transport Association cartel, so it can give all sorts of free extras to passengers. In both first class and economy, they get free champagne and drinks even before takeoff; gifts like pens or complete leather toilet sets are distributed on every flight to first-class passengers. SIA is spending $30 million to build...
...best of the "film noir" style that emphasized the dark side of the American character in the climate of national disillusionment following World War II. The film features Glenn Ford, Rita Hayworth and an actor whose name I always forget, who plays a Rio casino owner-cum-international tungsten cartel boss. It revolves around two sinister triangles: one, a quasi-homosexual link between the tungsten boss, the boss's sword-cane, and Glenn Ford (the other, between Rita Hayworth, the tungsten boss (who marries her), and Ford (who has had a bitter affair with her and becomes the boss...
WITH THE EGYPTIAN defeat in the 1967 war and the Israeli advance to the Suez in 1973, the Iranians and Saudis abandoned their previous policies and united to create the oil embargo and later to form the oil cartel. At the same time the Egyptians helped to seek an accommodation with North Yemen--the Arab Republic of Yemen, which subsequently sought relations with the Saudis. But Southern Yemen splintered and set up a Marxist-Leninist regime--The Democratic Republic of Yemen...
Last week De Beers, South Africa-based kingpin of the diamond cartel and central selling agent for most diamond-producing countries, acted to stabilize the market-by making a big price increase. At its regular sale to selected buyers, De Beers posted a 40% price surcharge. One motive was to cut diamond-producing countries in on the profits that speculators have been reaping. De Beers also hoped to stop the hoarding; at the new level, speculators might find prices that tempt them enough to sell some of their stashed-away stones to cutters who need gems. And if supplies reaching...