Word: coppers
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Dates: during 1990-1999
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When asked about the fondest memories he holds of David, Ted cites a day in the early 1970s in Great Falls, Mont. David had moved there first, after college, and was working as a copper smelter. Ted was building his cabin on land the brothers had bought together outside Lincoln. One day, Ted recalls, they took their baseball gloves to a park. "We were as far apart as we could get and still reach each other with the ball," Ted says, smiling, as if lost in the moment. "We were throwing that ball as hard as we could...
...Materials: Steel frame, fire resistant plywood and fire protection system (the original tower burned down in a 1956 blaze), polychrome slate (fading green, red and black), copper finials and the piece de la resistance of four corner brick and stone precipices...
...Varian also has a more dramatic worry. When the economy of a nation runs through little copper wires, when the efficiencies of IT are realized as a world of virtual transactions, virtual financial records and interconnected databases, isn't that rather thin ice? When the economy of the world's only superpower goes online, what happens if the system crashes? "The Internet is just basic communications infrastructure that creates huge benefits, but it also creates significant vulnerabilities to hackers, crackers and even terrorists," he says. "Computer security, I think, is a significant problem, and it's going to get worse...
...strict capitalists among Freeport's shareholders might be happier were that the case. The company's stock last week closed at about $14, down from $36 three years ago. Low copper and gold prices, which the company obviously can't control, clearly have hurt; but some shareholders also complain that despite a cost-cutting campaign dubbed "Hunker Down and Go," Moffett's 1998 compensation of $4.5 million plus stock options is out of line with Freeport's sagging performance...
...minded parties capture the majority of votes, as looks likely, and the military does not intervene, which seems plausible, popular resentment over the company's connections with Suharto might encourage the new government to re-evaluate even the revised contracts, or to further jack up royalty payments, just as copper prices seem to be turning up. That in turn could erode the firm's low-cost structure. Even worse, Jim-Bob Moffett's old friends in high places would no longer be there to help...