Word: cartelism
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OPEC, the international oil-producing cartel, is fighting for its life amid tumbling oil prices and members' cheating on their quotas. That, says TIME business writer Bernard Baumohl, is the reason Saudi Arabia yesterday secured an agreement from Venezuela and Mexico cut oil output -- a deal quickly emulated by Kuwait, Iran and the United Arab Emirates...
...work alone, however, the results are more dubious. Witness Intel's unveiling Tuesday of Quick Web technology, which will do little more than double the download of a 28.8 modem, while delivering clunky graphics and cached pages. Most surfers would likely prefer to wait for the wintel-Bell cartel to deliver. Next problem: how to handle traffic when everyone and their grandmother is sucking down a million bits a second...
WASHINGTON: The Big Five tobacco companies are a wary cartel: always in competition but still bound together, in charge of the same pot of gold. Now one of them is going under the hot lights, giving them all a new reason to be nervous. Brown & Williamson Tobacco was the "unindicted co-conspirator" in the guilty plea Wednesday of a California biotech firm called DNAP, which was convicted of breeding high-nicotine tobacco plants (illegal under U.S. law) and smuggling seeds out of the country to be farmed in Brazil...
Clinton Drug Czar BARRY MCCAFFREY drew flak last week when he visited Colombia President ERNESTO SAMPER, who had been sanctioned by the U.S. for allegedly taking campaign funds from the Cali cartel. But in private, the retired general signaled to key members of the ruling Liberal Party that relations with the U.S. will continue to be strained if the party's presidential nominee for the May 1998 elections is the current front runner, former Interior Minister HORACIO SERPA URIBE, one of the men who took responsibility for letting the drug money into Samper's campaign. "We desperately look forward," McCaffrey...
...GILBERTO RODRIGUEZ OREJUELA were thought to be plotting a jail break. The police found evidence they had been chatting away with their aides via cell phones, hard lines, fax and the Internet. Recently, DEA officials say, the cnp raided a group of private telecommunications switching centers that the cartel leaders had organized in Bogota so they could dial a local number and have a clerk patch their calls to numbers anywhere around the world. The CNP telecommunications crackdown has put a cramp in the dons' style, but they still use visiting henchmen to carry messages to the outside...