Word: co
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Dates: during 1950-1959
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France's government-owned Renault Co., world's No. 6 automaker, last week canceled its contract with an Israeli firm to assemble its cars in Israel. Reason: fear of an Arab boycott. To the Israelis it was an old story, but a particularly galling example. Obviously De Gaulle's government had consented to the move, and Israelis thought they knew why: subordinating all else to an Algerian solution...
...Israel more injury than Arab armies did in two wars. It has effectively deterred Israel's plans to set itself up as an industrial nucleus to serve Middle East markets. Such well-known U.S. firms as Philco Corp., Standard Oil (New Jersey), British-Shell and Socony Mobil Oil Co., Inc. have removed themselves from the Arab League blacklist by deciding that doing business in Israel is uneconomic...
...current blacklist, drawn up in Cairo, names 48 American firms. Included are Empire Brushes Inc., Kaiser Industries Corp., Dow Chemical Co. and Plough Sales Corp., because they have branches or agencies in Israel. Individual Arab countries have their own blacklists, which are even more capriciously kept. Philco radios and air conditioners were banned in Saudi Arabia even after the firm's name was removed from the Arab League blacklist. Last February, after Elizabeth Taylor bought $100,000 worth of Israeli bonds, the United Arab Republic banned any further showing of her films in Syria and Egypt. Presumably the boycott...
...well ahead of last year. Third-ranking Republic reported a net loss of $24,861,406, biggest quarterly loss in its 60-year history. But because of a record second period, Republic's nine months' net was $2.69 per share v. $2.50 last year. Youngstown Sheet & Tube Co., No. 6 among the nation's steelmakers, had a third-quarter loss of $7,149,660. In the first nine months of 1959, Youngs-town's net was $6.20 per share v. $3.32 last year...
Leading the automakers' third-quarter reports was Ford Motor Co., which had earnings of $53.2 million, or 97? per share, v. a $14.9 million loss in the same period last year. The buoyant third period pushed Ford's nine-month earnings to $6.19 per share. Studebaker-Packard had a third-period net of $3,399,779, or 53? per share, v. a loss of $9,200,000 last year, pushed its nine-month earnings to $2.39 per share. Chrysler, hit hard by expansion and new model costs, reported a third-quarter loss of $34.2 million, highest...