Word: cartelizing
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...year.) After Deterding set up his U.S. plants, he made a shrewd peace treaty with Jersey Standard. Anxious to consolidate his gains and disturbed by the worldwide price wars of the 20s, he persuaded Jersey and British Petroleum (then Anglo-Iranian Oil) to join him in the famous "AsIs" cartel agreement that carved out worldwide markets and quotas. Before he retired in 1937, he had built Royal Dutch/Shell into a billion-dollar business...
During World War II, the Group was probably the hardest hit of any oil company. Bombers battered its European installations, U-boats sank its tankers. The Group got another blow when the U.S. Government forced Jersey Standard to drop all cartel agreements in 1942, thus dissolving the As-Is agreement at a time when the Group's market positions were left badly exposed. But at war's end, it rebuilt its damaged installations so fast that Jersey Standard had little chance to cut deeply into the Group's markets. At first it financed most of its expansion...
...Mercedes limousines roll into sight in sober single file. Whose funeral? Germany's? They roll up to an elegant hotel. Nine doors fly open, and out step nine millionaires in nine black Homburg hats. After a long day in the board room, the directors of the Insulating Materials Cartel-a cover name for a munitions trust-hurry off in sober single file to spend a long night in the bedroom...
Warned by the Better Business Bureau, police forwarded photos of two Lass "Picassos" to Picasso himself, and the master labeled both fakes. Museum experts declared the older pictures largely student efforts, with signatures clumsily painted in. The Lasses stood firm under fire, protesting that an international art cartel was out to get them. But the brothers' own art tastes seemed confused. "Picasso," said Mark Lass, "is a mere cartoonist." But when he was asked how much he would take for one of his "Picassos," he answered: "I would not sell under half a million dollars. I would destroy instead...
...will replace another government attempt to reduce oil use by setting up an oil cartel. Under the cartel, which Erhard also admitted was one of his little sins, major oil companies last December were pressured by Bonn to fix prices at $22 per metric ton (about $3 per bbl.) and not to advertise. But cheaper oil flooded in from neighboring nations and Iron Curtain lands. Small, noncartel companies cut oil prices as low as $15 per ton, tripled their market share to 25%. Last week giant Esso A.G., a subsidiary of Standard Oil Co. (New Jersey), alarmed because its share...