Word: diamond
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...successful, your business has to be fun." By that creed Harry F. Oppenheimer, 72, has become one of South Africa's, and the world's, wealthiest and most influential businessmen. These days, however, Oppenheimer, head of an $18 billion gold, diamond and natural resources empire, and one of the country's most outspoken critics of apartheid, is smiling less than usual...
Except for an accounting change, De Beers Consolidated Mines, the huge diamond company of which Oppenheimer is also chairman, would have had an 8% drop in 1980 profits to $861 million...
Tumult in the diamond market has come as a real surprise. Oppenheimer's De Beers group supplies about 85% of the world's rough diamonds, and is by a wide margin the most influential member of the London-based Central Selling Organization, an international price-fixing cartel of diamond producers. In spite of the cartel's efforts to stabilize the market, diamond prices have fallen because of excessive speculation combined with a slack in demand...
...fend off any further takeover efforts, Conoco searched frantically for a merger partner. On rumor alone, the stock prices of Diamond Shamrock, Newmont Mining and Cities Service all leaped as investors speculated that Conoco was preparing to institute merger proceedings with them...
Forget about Charles and his Shy Di. The true royal tandem this summer is a prince-frog named Kermit and his porcine treasure, Miss Piggy. In their sequel to The Muppet Movie, Jim Henson's Dynel delights are out to retrieve the fabulous Baseball Diamond and bring to justice the swine-oops, dastard-who stole it. Caper never lives up to Kermit's early promise: "Boy, I wish I were you people seeing this picture for the first time." Fozzie Bear, Animal, Gonzo and the rest are more at home subverting the rigid formulas...