Word: corp
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Dates: during 1970-1979
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Replied Leach wryly: "That is a unique and thoughtful approach, but I doubt whether it would be widely embraced." At several stops, Leach asked for a show of hands on whether the Federal Government should help the ailing Chrysler Corp. in its financial troubles. Insisted an insurance man in the town of Washington: "They should have the same right to go broke as I do." Nevertheless, the vote there was 18 to 10 in favor of a federal loan guarantee for Chrysler...
...plea for a wage freeze, but delegates from its Chrysler council agreed to reconsider making concessions once the UAW agrees to a new three-year contract with GM and Ford. Said UAW President Douglas Fraser: "We'll take into consideration whatever is needed for the survival of Chrysler Corp." The union probably will accept smaller raises at Chrysler than at GM and Ford...
Congress can also consider that if Chrysler fails, the federal Pension Benefit Guaranty Corp. may have to assume responsibility for about $800 million in insured but unfunded pension obligations to the auto company's employees. "That would be catastrophic," warned one agency official. To pay the bill, the PBGC would have to get special congressional approval to raise the fees that it charges for insuring other companies' pension funds...
South Africa was early to capitalize on its coal resources, estimated to be 25 billion tons, or about one-seventh of the U.S.'s total. In 1950, the South African Coal, Oil & Gas Corp., known as SASOL, was formed and by 1955 Sasol gasoline was being sold. The state-owned company, which charges just over $2 per gal. of gas, began showing a profit in 1973 and last year had pretax profits of $140 million on sales that totaled close to $ 1 billion. Although environmentalists were alarmed at the potential damage -indeed, smoke often hangs like a gray curtain...
South Africa has contracted with Fluor Corp. of Irvine, Calif., to build the two additional, much larger plants...