Word: consortium
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Dates: during 1990-1999
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Next month the 47-nation International Bureau of Exhibitions (B.I.E.) will choose among Venice, Hanover and Toronto as hosts for the fair. A consortium of 40 companies, ranging from Fiat to Benetton, Olivetti to Coca-Cola, is mounting a vigorous campaign for the honor, arguing that the Expo would breathe life into the area's failing economy. But the city's devotees from around the world are convinced that if Venice wins, it will be lost. "The Expo would be a biblical disaster," says outgoing Mayor Antonio Casellati. "We would be signing the city's death sentence...
Nonsense, retort the Expo's supporters, led by Italy's Foreign Minister Gianni De Michelis, who is using his position to pressure some of Italy's allies into supporting the proposal when it comes to a vote. He and his fellow advocates, including his brother Cesare and the business consortium, argue that the fair would transform Venice into the "new capital of Mitteleuropa," a center of communications and research. Half the local population has abandoned the city in the past 40 years, they note, leaving behind a hollow tourist playground built on a crumbling, honeycombed island. Without such an ambitious...
...transport pact, and an investment treaty. The U.S. and its allies could also block Moscow's entry into the General Agreement on Tariffs and Trade, the International Monetary Fund and other international bodies, and restrict Soviet access to funds from the nascent European Bank for Reconstruction and Development, a consortium of 42 nations...
When a $150 million communications satellite was stranded in space last week, the fledgling U.S. commercial launch business may have been set adrift with it. Owned by Intelsat, a Washington-based consortium of 118 countries, , the satellite, which was to handle phone calls and television transmissions, failed to separate on schedule from its booster and tumbled into a useless low orbit. Though Intelsat technicians managed to lift it a bit higher, the five- ton payload nonetheless seemed destined to plunge back to earth within a few months, unless NASA can arrange a rescue by the space shuttle...
...firms had appeared ready to gain on Arianespace, a French-based European consortium that holds a commanding 50% share of the $1 billion launch market. The consortium suspended new missions for an indefinite period last month after one of its rockets exploded shortly after lift...