Word: consortiums
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...Eiffel Tower of Paris has always looked a bit like an oil derrick. Now a consortium of French energy companies led by Societe Nationale Elf Aquitaine is exploring the possibility that there may actually be oil under the city's venerable streets. Last week four 14 1/2-ton trucks completed a series of seismic tests that took them lumbering down the Champs Elysees and past such landmarks as the Arc de Triomphe, the Place de la Concorde and the Louvre...
...longer. Britain's second largest bank last week announced it was selling its share of Barclays National, South Africa's biggest commercial bank, for $116 million to a consortium of South African firms, including Anglo American, a diversified mining and manufacturing company, and the De Beers diamond concern. The divestiture, which followed a gradual reduction of the British bank's holdings in Barclays National to 40.4% by last year, was made in the face of rising worldwide sentiment against apartheid and doing business in South Africa. Said Sir Timothy Bevan, chairman of Barclays: "I'm not a coward...
...keep imported knock-offs of their products out of the U.S. But Lever Bros., the second largest American soapmaker, sued the Customs Service last week to block U.S. sales of goods produced by its sister company, London-based Lever Bros. Ltd. (Both are subsidiaries of Unilever, a British-Dutch consortium.) In 1983 the American Lever Bros. was enjoying splashy sales of its Shield deodorant soap and Sunlight dishwashing detergent when products with the same names began appearing at discount prices. Manufactured by the British Lever Bros., the soaps had been shipped to the U.S. by unauthorized middlemen. The U.S. firm...
Many cite the development of parallel leagues in football and hockey as evidence of a trend toward academics over athletics. The Colonial League, a consortium of private colleges with similar academic philosophies and geographic locations, began play this fall after agreeing to accept Ivy League-type standards, including a ban on athletic scholarships...
...which have paid an average $6,000 apiece to about 4,500 borrowers in the plan's three years, are aimed at middle-class parents whose relatively comfortable incomes ($40,000 to $100,000) disqualify their children for conventional forms of need-based aid. In addition, the Massachusetts-based Consortium on Financing Higher Education, whose 30 members include Northwestern, Harvard, Yale and Stanford, provides supplemental $2,000 to $15,000 loans to the same kinds of families. This past March, Stanford for the first time extended low-interest, long-term loan plans to parents in the highest income (more than...