Word: consortium
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Dates: during 1970-1979
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Where will the money go? The oil producers can use some-though not much-to buy out foreign holdings within their own borders. Last year Saudi Arabia paid $500 million for 25% of Aramco, the consortium that pumps and distributes Saudi oil, and last week agreement was reached for a 100% takeover by year's end. Western banks and a handful of investment banking houses have won contracts to direct petrodollars from oil-rich Arab nations to poor or heavily populated ones such as Egypt, Sudan and Yemen. But many of the poorer Arab nations will require years...
This is no laughing matter. At least, it wasn't meant to be. But consider: a consortium of international dirty dealers, led by Sir John Gielgud, plans to manipulate the gold market by flooding one of South Africa's richest gold mines...
...relief of depositors and other bankers, Smith announced that Franklin's 104 branches would be taken over immediately by European-American Bank & Trust Co., a little-known consortium of six major European banks...
...still hoping for Government help, said that he was "heartened" by the measures. While the benefits from the plan would be longrange at best for cash-strapped Pan Am, the package might do just enough to keep the line from going broke in the coming months. Reason: a consortium of 36 banks, led by New York's First National City, is sitting on $205 million in credit that the bankers are ready to release to the company if it looks worthy. They have said that they would advance no credit if Pan Am's assets drop beneath...
...merits of the French and American planes, however, will not be the major consideration when the consortium decides. Instead, the four nations will be swayed by what one Pentagon official calls "technopolitics"-a combination of economics, political pressure and diplomatic intrigue. Both Paris and Washington appear willing to make lucrative concessions to the purchasers. They have promised, for example, that much of the fabrication and assembly of the fighters would be in the factories of the consortium nations. The French, who now trail only the Americans and the Russians as a purveyor of the military hardware to the world, have...