Word: consortium
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Dates: during 1960-1969
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...keep the books, the young trio brought in machines to replace the old men with scratch pens. They sought out new banking customers as their more conservative fathers never would have done, and launched new companies to share in Europe's postwar boom. When Guy & Co. formed a consortium to explore for oil in the Sahara, the Rothschild name added glamour to the venture, and the entire stock issue was snapped up within hours...
With help from the World Bank, de Rothschild Freres created another consortium that has put up $166 million to exhume a rich iron lode in Mauritania. Among other companies that the Rothschilds control, Pefiarroya in Chile mines 7% of the free world's lead, and Le Nickel in New Caledonia produces 10% of the world's nickel. Under Guy, the Rothschilds have also built France's biggest private uranium mining company, which supplies some of the raw material for De Gaulle's force de frappe. And it was de Rothschild Freres that drafted the plan...
...expanding services, the bank has admitted three non-Rothschilds as partners (the family still controls with four partners). The British Rothschilds, who still are the world's most important bullion dealers, have started a factoring company, an investment advisory service and two mutual funds, are participating in a consortium to underwrite pay TV and in a group of Europe's gilt-edge banks called Euro-syndicat, which was organized to seize opportunities in the Common Market...
...their most ambitious project, the British Rothschilds put together a consortium to tap the timber, minerals and hydro power of a 53,000-sq.-mi. area in Newfoundland. Next spring the British Newfoundland Corp., with both the British and the French Rothschilds represented, will begin a $1 billion, seven-year job to dam Hamilton Falls and harness its 6,000,000 h.p. It will be the world's biggest hydroelectric development, and Sir Winston Churchill has called the whole project "a grand imperial concept...
...goods after they cross the Iron Curtain. Western governments generally discourage or prohibit giving Communist customers anything but the most limited credit. And Western insurance firms, for the most part, consider such business neither safe nor profitable. One of the few U.S. firms to try it-a 15-company consortium-went out of business more than six months...