Word: coppers
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...since the '30s has the copper industry endured such deeply depressing times. Largely because of reckless overproduction of the red metal in some strapped Third World countries, notably Chile, Peru, Zambia and Zaire, worldwide supply exceeds demand by the biggest margin ever. Copper prices, which were as high as $1.52 per lb. on the London Metal Exchange in 1974, have collapsed to 56? in London and 65? in the U.S.-well below production costs at some mines. In these circumstances, U.S. firms were not all that upset three weeks ago when 40,000 copper workers seeking higher wages shut...
What has upset coppermen more than the strike is a wage settlement made with the unions last week by Kennecott Copper Co., the world's largest producer (1976 sales: $956 million). If it sets an industry pattern, the agreement will increase production costs by at least 15? per lb. over the next three years-at a time when prices are still sagging...
...Kuhn Loeb & Co., and Walter Page, president of Morgan Guaranty Trust, finally lopped off the coal business. Then it began considering ways to use the resulting billion-dollar bonanza. The board's conclusions: diversify into another business (possible targets: forest products and oil companies) and invest more in copper properties...
...Asia and Australia to viruses apparently transmitted by mosquitoes. Other types of arthritis may be bacterial in origin or simply the result of stress at certain joints. In any case, the lack of a clear understanding of many of arthritis' manifestations has complicated treatment; everything from corticosteroids to copper bracelets and special diets has been tried by sufferers. But the most common-and sometimes the best-therapy involves nothing more exotic than aspirin...
...observations of Laurnet Furzieff, a French journalist who watches scenes in the street, the destruction of the Moneda Palace, and the grotesque rejoicing of the upper classes, lend coherence to the film. Furzieff's question to General Pinochet in a final press conference--"What will you do about the copper mines?"--elicits a response that indicates who will benefit most from the coup. "We will return them to their legal owners," the general says, "the American companies...