Word: dassault
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Dates: during 1970-1979
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...three years, virtually killing his bid for the presidency in 1974. The Duck also unearthed some questionable financial dealings by the murdered Prince Jean de Broglie, a man with close ties to the Giscard administration, and printed the income tax dossiers of both Giscard and Aviation Tycoon Marcel Dassault. The government paid Le Canard a bumbling tribute one night when its agents were discovered in the paper's offices trying to implant bugging devices. "Watergaffe," quacked the Duck, and proudly proclaimed itself "the most listened-to newspaper in France...
...raps. In recent years he has made millions as an arms procurer and builder of military bases in Saudi Arabia. Ojjeh's spokesman dismissed the reports as nonsense, and at week's end he was said to be negotiating a $293 million deal to buy aircraft from Dassault-Breguet, the French planemaker, presumably on behalf of the Saudi government. Nor has Ojjeh's opulence declined. At last count he owned ten Rolls-Royces, 30 Mercedes and two Boeing 707s. Says he: "I do not lack the necessities of life...
Aircraft Manufacturer Marcel Dassault, 85, reputedly the richest man in France, always has been philosophical about the fate of the company he founded. "Nationalization," said Dassault last year, "would not after all be a bad thing. Severe unemployment lies ahead, and with a nationalized company, you can be sure that the state will somehow find a way to maintain the labor force." Dassault was talking about takeover by a left-wing government, should the Socialist-Communist opposition win the parliamentary election scheduled for next spring. Last week, however, a step toward nationalization came early, from a different direction. The government...
...strict sense, of course, Dassault-Breguet will not be fully nationalized. Under French law, however, the government's 34% holding of the stock will enable it to block any major corporate decisions the government does not like. For the time being, at least, Dassault will remain in charge of his empire, including Jours de France, one of the most profitable of French magazines, Château Dassault (a Saint-Émilion vineyard) and a variety of electronics companies. But there does seem to be little doubt that Dassault-Breguet's days as an independent company are numbered...
Faced with overpowering U.S. competition on world markets and suffering from the commercial flop of Concorde, the French aviation industry needs restructuring into a single, strong entity. Observers reckon that little by little, Dassault will be moved into the orbit of government-owned Aérospatiale, the biggest aircraft company in France (1976 sales: $1.8 billion). But Aérospatiale is ailing. Last year it lost approximately $125 million, thanks mainly to Concorde costs. Clearly this was a situation the government could not tolerate. Last week executives at Aérospatiale headquarters in Paris were jubilant. "Yes, we think...