Word: consortium
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Dates: during 1960-1969
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Western European steelmen have already cut deeply into U.S. sales in other world markets. Since 1957, U.S. exports of tinplate have been slashed from 721,000 tons to 422,000 tons last year. Right in the U.S.'s backyard, a German consortium recently walked off with the $10.8 million contract to supply steel for the mile-long Balboa Bridge in Panama. Since every emerging nation wants its own steel mill as a status symbol, the competition for foreign markets is bound to get increasingly bitter. The Europeans, and the burgeoning Japanese steelmakers, can be expected to underbid their higher...
...signals to the remotest corners of the world. Both in Congress and the communications industry the burning question is: Who will own the satellites? Rising to champion private industry, Oklahoma's Democratic Senator Robert S. Kerr has introduced a bill that would give ownership to a consortium of established U.S. communications companies, presumably led by such titans as A.T. & T. and RCA. In the House, New York Democrat William Fitts Ryan has introduced a bill calling for the creation of a TVA in space...
Late last year, having lost all patience with capricious Industrialist Howard Hughes, a consortium of eleven U.S. banks and insurance companies did its best to put him out of the airline business. In return for a $165 million loan that Trans World Airlines desperately needed to finance its new jet fleet, the consortium obliged Hughes to place his 78% of TWA's stock in a trusteeship. Last week, clearly unfazed by his setback at TWA, wily Howard Hughes, 55, made a dramatic bid for re-entry into commercial aviation. His newest ploy: a request to the Civil Aeronautics Board...
...successful invasion of Britain, however, would also further Mattei's tireless fight to revenge himself on the big oil companies for freezing him out of the international consortium set up seven years ago to refine and market Iranian oil. British oil companies currently sell about 25% of the gasoline used in Italy; Mattei slyly implies that he would be satisfied with the same percentage of the British market, 83% of which has been held up to now by British Esso and Shell...
...five years. By contrast, the proposed British contribution to a tunnel would be $73 million-and a tunnel would not wear out as do planes and ferries. And where a Channel bridge, because of its huge cost, would have to be subsidized by the British and French governments, a consortium of six international banks* is prepared to raise the entire cost of a Channel tunnel from private investors throughout Europe...