Word: edisonizing
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...proposed reservoir would store water pumped up from the Hudson and release it to run generators by its descent. With a 12-million-kilowatt capacity, the $162 million Consolidated Edison installation would be the largest of its kind in the world...
...largest merger in Italian history is about to create the country's biggest business (replacing Fiat). The merger is between Montecatini, the huge chemical-minerals complex, and the Edison Group, a private power company that switched to heavy industry in order to survive when Italy nationalized power in 1962. The resulting giant, which Italians are already calling "the supercolossus," would have united sales of about $1.5 billion, would control 70% of Italy's chemical production and much of its pyrite, potassium, bauxite and glass output. At the news that the government had tentatively approved the merger and that...
Saved by Shell, Faina moved to strengthen Montecatini. He acquired Adriatic Electric-along with Edison, one of Italy's five big pre-nationalization electric companies-and with it a $190 million expropriation payment still due from the government. Meanwhile, other nations gradually recognized Montecatini patents on such processes as Moplen, a light, easily molded polypropylene for which Chemist Giulio Natta won the 1963 Nobel Prize. Montecatini now holds 1,800 patents, fattens its income by licensing them in 30 countries. Sales are up 31% to $633.6 million this year, although rising costs continue to hold down profits...
Free from Competition. The merger, the immensity of which will have billowing effects on every financial empire in Italy, will enable Faina to cut costs. It will also bolster power-shorn Edison; under President Giorgio Valerio, 61, Edison has used its expropriation cash to move into electronics and heavy machinery, but most strongly into chemicals, where it has become Montecatini's principal rival. The merged company would no longer have to worry about that kind of competition, nor, because of Italy's easy antitrust laws, about facing monopoly charges...
...industry, the byproducts of a cleanup often offset part of the costs. Los Angeles County's oil refineries strip smelly hydrogen sulphide from crude oil, convert it to 450 tons a day of marketable sulphur. Boston Edison Co. mines vanadium from its oil-fired smoke, exports it to Belgium. For the nation, air and water cleanups mean a huge saving in dollars as well as in health. An air cleanup alone would save $11 billion a year that is now wasted on extra cleaning, painting, corrosion and damage to crops and property...