Word: crocker
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...last month. On February 18, Chester A. Crocker, assistant secretary of state for African affairs, unveiled the administration's decision to provide Jonas Savimbi's guerillas, who are fighting against the Angolan government, with at least $15 million in anti-aircraft and anti-tank missiles...
Despite the President's rhetoric, many Administration officials realize that a blanket pledge to aid anti-Communist insurgencies everywhere entails unacceptable risks. Angola is a case in point. Assistant Secretary of State Chester Crocker revealed to a congressional committee last week that the U.S. had set "the process in motion" to provide some $15 million in covert funds to the rebels in Angola. The State Department hopes that the covert aid will forestall a conservative effort in Congress to mandate above-board funding...
Founded soon after the Gold Rush of 1849, Wells Fargo is California's oldest bank. Last week the San Francisco company, which still uses its familiar stagecoach symbol, scooped up some glittering gold dust when it agreed to pay Britain's Midland Bank $1.08 billion for Crocker National, another San Francisco bank. If the deal goes through, the combination of Wells Fargo (1985 assets: $29.4 billion) and Crocker will be the largest banking merger in U.S. history. The agreement ended six months of secret negotiations between Wells Fargo and Midland executives. No one at Crocker had known that a deal...
Midland bought controlling interest in Crocker in 1981. Shortly thereafter, Crocker began losing money because of shaky loans, but Midland reorganized the California bank and helped it earn a profit of $38 million in 1985. Midland was willing to sell Crocker because better profit opportunities are becoming available in Britain as the government of Prime Minister Margaret Thatcher deregulates the country's financial markets. For that reason, Midland decided that it made more sense to deploy its resources at home rather than continue a long-distance relationship with Crocker...
...Corp. through Chevron's subsidiary Gulf Corp., which owns a 49% interest in Angola's Cabinda Gulf Oil Co. Says one UNITA leader: "Gulf Oil has been subsidizing the Soviet and Cuban occupation of Angola." Although the U.S. has long supported and encouraged the American industrial presence in Angola, Crocker last week issued a warning to U.S. companies: "They are in the middle of a war zone. They should be thinking about U.S. national interests, as well as their own corporate interests, as they make their decisions...