Word: consortium
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Dates: during 1970-1979
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Representatives of the black studies departments of Harvard, Brandeis, Northeastern, Tufts, Wellesley, and the University of Massachusetts at Boston organized the "consortium" on black studies last night...
Last October the airline painfully negotiated a $125 million revolving credit with a consortium of 36 U.S. banks. The credit expires this autumn, and it was widely expected that Pan Am would have trouble renewing it without some form of government guarantee or operating subsidy. But such federal underwriting would surely run into considerable resistance in Congress; Wisconsin's Democratic Senator William Proxmire has already voiced opposition to making Pan Am "the nation's largest welfare recipient." Pan Am's financial troubles have also impeded its search for a merger partner...
...preproduction YF-16s will grow into a $4.3 billion purchase of 650 planes at first, and perhaps another 400 planes later on. Although the Navy is looking closely at the Northrop jet, it too may decide to purchase a carrier version of the YF-16. Meanwhile, a consortium of four NATO allies-Belgium, The Netherlands, Norway and Denmark-is approaching a decision on whether to buy 350 of the planes. In the end, orders could total as many as 3,000 planes worth $15 billion...
Abroad, the Air Force order appears to put the YF-16 well in the lead in a three-way race with the Northrop plane and France's Dassault Mirage F1-M53 for the consortium's business. Because they believe in the reliability of a twin-engine plane, the Dutch, the Danes and the Norwegians were leaning toward Northrop's YF-17. But they have said that if they buy an American fighter, they would probably choose the same one as the U.S. Air Force. Reason: unit costs would be lower. They are expected to announce a decision...
...single-price system reflects the belief that oil-country governments will soon take over lock, stock and barrel the wells on their territories. Principal reason for that feeling: Saudi Arabian and American owners of Aramco, the consortium that pumps out Saudi oil, recently agreed in principle on a 100% Saudi buy-out (the Saudis now own 60%). Negotiations in London on the details of the deal recessed last week, but it seems likely that in the end the Saudi government will have paid some $2 billion for Aramco. The chief questions still to be negotiated are how much the Saudi...