Word: consortiums
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...time when Saudi Arabia, the U.S.'s principal foreign supplier of crude, is once again showing its clout in world oil. That country last week paid an estimated $2 billion to buy the remaining 40% of Aramco, which produces the bulk of Saudi oil, from a consortium of four American oil producers, Exxon, Mobil, Texaco and Standard Oil of California. Americans will continue working for Aramco, but only in technical and managerial roles. The kingdom's Oil Minister, Sheik Ahmed Zaki Yamani, is also reported to have told British Foreign Secretary Lord Carrington that Saudi Arabia would soon...
...group is known as the National University Consortium, and so far it has enrolled an experimental group of approximately 200 students, many of them working adults with some previous college credits. N.U.C.'s pilot semester offers only three courses: an introduction to college-level math, the culture, politics and religion of the early Roman Empire, and a survey of systems management. Degrees are offered in humanities, technology and management, behavioral and social sciences. Students with no previous college credits will need a minimum of six years to earn a B.A. or B.S. degree...
N.U.C. students register in one of the consortium's cooperating local colleges. The TV programs are beamed from Maryland to local stations or cable systems serving Los Angeles, Sacramento, Portland, Chattanooga, Indianapolis, New York City, Pullman, Wash., State College, Pa., Moscow, Idaho, as well as Maryland, Oregon and Vermont. TV-viewing students will get credits and degrees from the college nearest them; those enrollees not served by a local college have to register with the extension division of the University of Maryland...
...Miracles ended 1960 with one gold record. By the end of the decade they had seven more. Motown grew into a kind of consortium of all-American soul as Gordy moved acts like the Supremes, Marvin Gaye and-yes-the Miracles out of the soul circuit and into the mainstream. Eventually Smokey seemed to lose his footing a little bit. He broke with the Miracles in 1972, wanting to spend time with his family. His solo records, smoothly crafted, were winning but not involving, irresolute, somehow, as if written and recorded on automatic...
...satisfy creditors and still keep their multibillion-dollar empire intact, the brothers, heirs to the estate of Texas Oilman H.L. Hunt, have been forced to arrange for a stupefying $1.1 billion line of credit from a consortium of twelve banks headed by Morgan Guaranty and First National Bank in Dallas. In return for the money, the banks have demanded as collateral just about everything of value that the Hunts still own. The resulting listing of mortgaged properties, which runs to more than 350 pages of securities, real estate, corporate holdings, art objects and even personal goods, provides a rare...