Word: coppers
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Dates: during 1970-1979
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...demand for a cleaner world translates itself into a growing demand for the goods and services such companies produce. The same argument in reverse holds that corporate malefactors will do some this-worldly penance thanks to expropriations, consumer boycotts and the like. Investors who held on to Kennecott Copper probably wish they had called the marines or their broker some time back...
...Gottwalds now talk about buying copper or other metal companies, but they also intend to stick with lead. It is possible that the Wankel rotary engine, currently being tested by General Motors and Ford as a replacement for the internal combustion engine, can be adapted to leaded gasoline and still meet antipollution standards. The family also hopes that the whole fuss over lead may blow over. Bruce Gottwald argues that regulations banning the future use of lead in gasoline were emotionally inspired by environmentalists. Brother Floyd adds: "In five years there will be a different President, different politicians...
...over El Paso has been smudged black from smokestacks belonging to the American Smelting & Refining Company. El Pasoans sneezed and coughed, but the belchings seemed a necessary nuisance to most people-and particularly to the plant's 750 workers, largely Mexicans, who earned their livelihood by smelting copper and lead...
...winners are CATV, brokerage-house and bank stocks. Likely to be among the poorest performers in the next few months: international oil companies, which are being forced to pay to host countries more and more of their earnings; public utilities, which find it difficult to raise their rates; and copper and aluminum, which face market gluts. Short of a major crisis, however, the stock market seems well on its way to a very good year...
...Guggenheim, 84, philanthropist and an heir to one of the largest family fortunes in U.S. history; in Phoenix. The grandson of Meyer Guggenheim, a Swiss immigrant who started with a small knickknack business and built a vast mining and smelting empire, Edmond Guggenheim helped supervise the family's copper holdings throughout the Western hemisphere for nearly half a century. For more than 30 years he also presided over the Murry and Leonie Guggenheim Foundation, which provided free dental care to the poor...