Word: chileanizing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...prospect about as promising as the Christians' venturing into the Colosseum, but pulled off a startling 30-26 upset. That same weekend mighty Oklahoma, the nation's No. 2-ranked team behind the high-scoring Trojans of Southern Cal, was put out of contention by a barefooted Chilean placekicker named Fred Lima, who booted two field goals for Colorado in the final period to down the Sooners 20-14. It's been that kind of season so far, for college football in particular and sports in general-a fitful fall full of upsets, letdowns and enduring surprises...
...negotiate about compensation if the expropriating country is of a mind to pay; if not, executives of most companies have simply written off the value of their seized assets. Kennecott Copper Corp., however, has come up with a third strategy to recover the losses it sustained when the Chilean government of Marxist President Salvador Allende Gossens last year seized its El Teniente mine, near Santiago. In a move of significance to all multinationals operating in mineral-rich but money-poor countries, the company is trying to throw up what amounts to an international legal blockade of Chile's copper...
Chile already has protested, claiming that the French courts lack jurisdiction. Kennecott argues that its property was in effect confiscated and that it has a right to recover its losses, which it figures at about $180 million. The company obviously hopes either to collect enough from foreign buyers of Chilean copper to make up that sum, or to force Chile into negotiating compensation for Kennecott's 49% interest in El Teniente, the world's largest underground copper mine. Win or lose, Kennecott has gained a tactical edge: Chile will have to justify its expropriation before relatively impartial French...
Kennecott's action has shaken other developing nations, which grudgingly depend on big foreign firms to develop their resources. Later this month mining ministers of Peru, Zambia and Zaire (formerly the Belgian Congo) will meet in Santiago to discuss with Chilean officials how best to counter Kennecott's thrust. The court battle could hardly have come at a worse time for Chile, which gets about 70% of its foreign currency from copper sales. The country is already boiling with political and social unrest, and teetering on the edge of bankruptcy. Obviously, Kennecott's offensive is likely...
...General Counsel Pierce McCreary, who is directing the campaign, has the air of a war room. His desk is strewn with shipping reports, and on one wall hangs a large map for plotting ships' courses. From here, McCreary keeps a close watch on vessels entering or leaving the Chilean port of San Antonio, the only place from which El Teniente copper is shipped. At present he is monitoring the movements of at least six ships headed for Europe, loaded with El Teniente metal; when they arrive he wants his agents to be there to greet them with court orders...