Word: consortiums
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Dates: during 1970-1979
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...calmer now. The construction workers have left, and the tanker trade has created lucrative permanent jobs. Valdez has a modern high school to show for its troubles and a small, gleaming new hospital to serve its 4,500 inhabitants. Doubtless in response to environmentalists' protest, the eight-member consortium that runs the terminal takes great care to maintain a freshly scrubbed, spill-conscious image. Sea lions play in the water alongside the piers, salmon and herring run in season, and 24-hour emergency crews stand by to contain spills with floating booms, chemicals and scooping devices. Since tankers began...
Real estate. Scarcely a single community does not feel the impact. In Bade County, Fla., a consortium led by Canada's Markborough Properties is spending $1 billion on an 18-year project to build an entire town, Villages of Homestead, that will add more than 14,000 homes to the tight south Florida market and provide 4,000 jobs. On South Carolina's Kiawah Island, the Kuwait Investment Co. is building a $500 million resort community. In New Orleans' old Vieux Carre district, an Iranian investment foundation is helping finance the development of a 23-acre complex...
...find foreign investors eager to take it off his hands for a top price. The $100 million Atlanta Center office and hotel complex was begun in 1973 with a $10 million participation by Kuwaiti investors; the Kuwaitis have now bought out their American partners. Two weeks ago, a consortium of European banks paid $62.5 million for one-half ownership of Houston's tallest building, a 50-story office tower at One Shell Plaza, and the 29-story Two Shell Plaza...
...Some are one-or two-man operations, and several are as large as West Germany's Lehndorff Management Ltd., which has invested some $300 million in U.S. properties for 1,800 investors. Reports TIME Bonn Correspondent Barrett Seaman: "An American kind of optimism is everywhere. In Frankfurt, a consortium of banks offered $60 million worth of over-the-counter investment shares in a Houston office building for about $10,000 each, and in three weeks sold out the offering to customers, many of them walking in off the streets. One Munich businessman has gone into partnership with some American...
...have outlawed the PDC in March of 1977. Instead, the report states, the same month the party was outlawed, U.S. banks loaned him $51 million. In January, 1978, Pinochet exiled 12 Christian Democrats for participating in illegal political activities and the same month, the report indicates, "the bank consortium headed by Wells Fargo lent the government $125 million and Exxon purchased approximately $100 million worth of shares of the La Disputada (copper) mines...