Word: corp
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Dates: during 1960-1969
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Conceived by Pittsburgh Oral Surgeon Robert M. Hall, and manufactured by Ohio's Aro Corp., the lightweight (6% oz.) device looks like one of the ultra-highspeed modern dental drills, and is driven by compressed air. The air power is a big safety factor; it permits surgeons to use the drill around explosive anesthetics without fear of sparks. But whereas most dental drills are controlled by a foot brake, the new model has a fingertip on-off control. It can turn up to 100,000 revolutions per minute and come to a dead stop in a fraction...
...Sweden but educated in the U.S. (University of California, '25), Peterson started with the Bank of America in 1936, but his current tour there is less than two years old. Cut off from headquarters in 1952 when Bank of America was obliged to surrender control of Transamerica Corp. where he was then working, Peterson could not immediately return to Bank of America without touching off a talent war between the bank and Transamerica. So he retired to a neutral corner as president of the Bank of Hawaii, was finally called back to Bank of America...
...stock market last week seemed to have only two gears-low and reverse. As a result it made a lot of commotion but little progress, opening the week at 671.77 on the Dow-Jones industrial index and closing at 672.52. But speeding along in overdrive was American Motors Corp. All week long, AMC stock was on the Big Board's "most active" list; in all, 687,500 AMC shares changed hands, pushing the price 1⅜ points...
Hard to Justify. Partly to get rid of local currency before it depreciates any more, and partly because they are already too deeply committed to back out, some U.S. companies are continuing to expand in Latin America's economic trouble spots. California's FMC Corp. recently completed a food machinery plant in Argentina-but is operating it at only a fraction of capacity. Other U.S. companies are holding on in the hope that the business climate in Latin America will eventually improve. In the meantime, notes Chase Manhattan Bank Economist William Butler, "it is difficult for an American...
Named last week were the first two companies chosen for protection: GINSA, the General Tire Corp. subsidiary in Guatemala, and Nicaragua's Hercules Powder Co. insecticide plant. Both will be able to ship their products throughout the Central American market free of tariff and will enjoy the shelter of a high common tariff against competitive imports. Theoretically, there is nothing to prevent their foreign competitors from setting up plants in Central America, too, but such plants would not get the same tariff breaks. All this may well lead to rapid growth for GINSA and Hercules. But it may produce...