Word: cartels
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Dates: during 1970-1979
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Shunning the Cartel. Icelandic is faring much better than competitors on the lucrative North Atlantic run. In the first five months of 1970, the little line's passenger volume increased 41%, to a record 71,500 passengers. Its average load factor is an enviable 69%. Last year it earned $1,095,000 on revenues of $23.5 million. The biggest attraction is Icelandic's small fares. A round-trip excursion ticket between New York and Luxembourg costs $259 in the peak season and requires no minimum stay. For turboprops the fare is $239. The cheapest equivalent flight...
...essence of their report, hardly news to official Washington, is that the 83-year-old ICC does not exactly regulate the 17,000 railway, trucking, shipping and pipeline companies under its jurisdiction. Rather, it operates a cartel on their behalf. According to the report, the commission in effect presides over thousands of local transport monopolies, protecting inefficient carriers from competition at the expense of the public. It permits massive discrimination in rates, a practice that it was expressly set up to forbid. Where railways have no water-borne competition they have charged shippers five times as much, computed...
...move overseas has been led by the highly advanced chemical industry, specifically by the three companies into which the victorious Allies shattered the old I. G. Farben cartel. The three are: Hoechst, Farbenfabriken Bayer, and Badische Anilin-& Soda Fabrik. B.A.S.F. recently spent $95 million to buy out Michigan-based Wyandotte Chemicals Corp., the biggest U.S. maker of urethane plastics (1968 sales: $147 million), and it is now putting up $100 million to expand a Wyandotte plant in Louisiana. The firm has also budgeted $200 million to $300 million to build a chemical complex of its own in South Carolina (TIME...
...Russia and the United States form an international banking cartel to combat the economic assault of the growing world-wide chain of Mao Tse-Tung Hand Laundries and Signor Ho Pizza restaurants. (The latter is a burgeoning international corporation in which all Latin American and third world nations own one share...