Word: consortium
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Dates: during 1960-1969
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Locking Up Hughes. Trippe's opportunity to snatch off TWA opened up two years ago when Millionaire Industrialist Howard Hughes was forced by a consortium of banks and insurance companies to put his 78.2% of TWA's stock into a voting trust in return for $165 million in loans to the airline. Under Charles Tillinghast, 51, the new president appointed by the trustees, TWA lost $38.7 million last year. In desperation, Tillinghast began seeking a merger partner...
...pretty young wife of the dissolute count in Luchino Visconti's segment of Boccaccio '70. But the role still had a touch of the old sentimentality in it, since Director Visconti had her cry while she was collecting money from her husband for granting him his marital consortium. Orson Welles has presumably buffed her up further as the nymphomaniac Leni in his still unreleased version of Franz Kafka's The Trial. Now she is undoubtedly ready to win her permanent place in a woman's world...
...Manhattan, Philadelphia and Pittsburgh to Alcoa Urban Development Corp., a newly formed subsidiary of mighty Aluminum Co. of America, which wants to do a little diversifying in a way that will also promote the use of aluminum construction. Alcoa gave Zeckendorf Property Corp. (an equal partnership between the British consortium and Zeckendorf's Webb & Knapp Inc.) $10 million in cash, a 90% interest in Alcoa Urban Development Corp., and a note for $25.6 million payable within eleven years...
...research is expensive and may become more so, but Avco is backed by a consortium of eleven powerful electric companies that sense a power revolution not many years away. If a full-scale generator works out as well as Dr. Kantrowitz expects, it will turn the chemical energy of coal or oil into electrical energy with 56% efficiency. The most efficient modern steam-driven generators do not get better than...
Ever since he seized power in 1958. Kassem has been playing a cat-and-mouse game with the Iraq Petroleum Co., the international consortium that since 1942 has held exclusive oil exploration rights for virtually all of Iraq and has already found there proven reserves of 26.5 billion bbl. of oil. In the last four years alone, I.P.C. has invested nearly $300 million in Iraq, and Kassem's government is largely financed by its 50% cut ($266 million last year) of I.P.C.'s profits. But this was not enough for Kassem, who demanded that I.P.C. surrender...