Word: consortium
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Dates: during 1980-1989
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Reaching beyond the country's borders, Gorbachev has attempted to start joint ventures with foreign investors. The Soviets have proved flexible: the original plan, which insisted on majority Soviet ownership, has been revised to accommodate the demands of Western companies. Last Thursday at a Kremlin ceremony, executives of a consortium of six U.S. firms -- including Chevron, Eastman Kodak and Johnson & Johnson -- signed an agreement for as many as 25 joint ventures involving about $10 billion over the next 20 years. Although the agreement specified ways that profits could be taken out of the Soviet Union in hard currency...
...happened. Since the building 15 years ago of the pipeline that carries Alaskan oil from the North Slope to Valdez for shipment by tanker to the West Coast, oil companies had been shrugging off environmentalists' forebodings of just such an occurrence. In January 1987, Alyeska Pipeline Service Co., the consortium of oil companies (including Exxon) that manages the pipeline, filed a contingency plan with the Federal Government detailing how it would handle a 200,000-bbl. spill in Prince ; William Sound. Alyeska did so only grudgingly, however, protesting, "It is highly unlikely that a spill of this magnitude would occur...
Such worries have not slowed the managers at the Elektrosila plant. They have teamed up with ten other factories and six research centers in Leningrad to form a consortium to explore new manufacturing methods. They plan to sell their equipment in package deals so that customers can sign up for an entire power plant with a single stroke of the pen. Elektrosila hopes for a substantial boost in exports to raise the foreign currency the plant needs to buy up-to-date Western machinery. At the moment the factory has only 7 million rubles ($11.2 million) in hard currency...
...Yale undergraduate, George Bush headed the local drive for the United Negro College Fund, a consortium that then represented 32 private black schools. Last week, as Bush delivered the keynote speech at the fund's 45th- anniversary dinner in Manhattan, and it was clear his ardor had not waned. "Then as now," said the President, "the U.N.C.F.") insists that excellence become a way of life...
...Energy Department to head one of its two genome centers. "It's largely an engineering project," Cantor explains, intended to produce tools for faster, less expensive sequencing and to develop data bases and computer programs to scan the data. Not to be outdone, Japan has set up a consortium of four high- tech companies to establish an automated assembly line, complete with robots, that researchers hope will be capable of sequencing 100,000 base pairs a day within three years...