Word: croesuses
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...Bechtel has managed its huge project without noticeable criticism or complaint from its Croesus-rich client. One reason is the company's almost ferocious dedication to careful planning and delivery scheduling, which seeks to avoid supply shortages and transportation interruptions that can produce budget overruns and delays. Indeed, while port operations in many developing countries frequently lead to congestion that leaves ships queuing for months on end, Saudi officials boast that demurrage (delay time) at Jubail is "not a single...
...relations link between master and mass. They need do nothing special, for they become what they marry. Jacqueline Bouvier Kennedy Onassis only needed to sign a brace of marriage contracts. Because the other signatories were a young American as powerful as Minos and an aging Greek as rich as Croesus, she became the best-known woman in the world...
Though pure gold coins were first minted by King Croesus of Lydia (modern day western Turkey) in the 6th century B.C., a gold-backed currency is usually traced back to 1717, when Sir Isaac Newton, then Master of the Mint, fixed the value of the pound sterling at about .24 oz. of gold. For the next 200 years, except when it was briefly suspended during the Napoleonic wars, the gold standard made the pound the world's most trusted currency and helped Britain dominate world finance and trade...
Nelson Bunker Hunt is lying low these days, which is not easy for the 275 Ib. Croesus, whose silver market setback last month triggered Wall Street's worst panic in nearly two decades. Hunt had tried to corner silver and been badly squeezed, when prices plummeted from $21.50 per oz. to $10.20 in less than four days. Early last week Hunt was tucking into a steak dinner in the Rib Room of London's Carlton Tower hotel when a Merrill Lynch customer's man seated near by spotted him. After Hunt had returned to his room...
...such as the U.S.'s Chase Manhattan and Citibank, West Germany's Dresdner and Britain's Barclay perform two vital and interrelated functions. Operating largely from London's money center, the big financial institutions have first of all provided a safe and secure place for Croesus-rich oil exporters, particularly Kuwait, the United Arab Emirates and Saudi Arabia, to park their unspent petro-profits, which by now amount to over $90 billion. The security and peace of mind that comes from feeling that their money is safe in these banks have been crucial factors in encouraging...