Word: exportability
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Banker's Rights. Schiller's move was the price extracted by the Bonn government and a group of West German banks for providing the financing that is urgently needed for $250 million worth of export orders that Krupp has on its books. The company's troubles began last year when Krupp, already suffering from the depressed coal market and declining prices for steel, which accounts for 30% of its total production, began grasping for export orders so as to keep its 100,000 loyal Kruppianers at work...
Having far overextended its own financial resources, Krupp went to an export-financing syndicate of 54 banks last December and asked for $25 million in credit. The bankers, who had advanced him $90 million earlier in the year, demanded to see the company's balance sheet. Then-incredibly-they turned Krupp down. Said Deutsche Bank Chief Executive Hermann Abs, Germany's most powerful banker: "It is the noblest right of the banker to say no when he considers the risk exhausted." Abs next took the problem to Bonn. Schiller stepped in quickly, fearing that a crisis at Krupp...
...Park's government embarks on its second five-year plan, Korea is pulsing with activity. The war demands of Viet Nam have created a huge export market for uniforms, boots, rubber goods, plywood, construction materials and galvanized sheet plate. This, along with other expanding Asian civilian markets, helped to lift the country's commodity exports last year to a record $255 million. To reduce imports, South Korea's first oil refinery, built two years ago at Ulsan, is being expanded, and another $50 million refinery is going up at Yosu, providing the base for a $100 million...
...handy little auto could probably sell even better if the government did not insist that it must be marketed abroad by the state trading organization, Motokov. Pretty good at long-distance peddling, Motokov's Prague-based bureaucrats export an extensive line of products including bicycles, buzzsaws, machine tools and household appliances-far too many items for the sort of sales effort Skoda executives would prefer for the 1000 MB. Says one Skoda man, "Motokov has many very good people, but it isn't ideal to have them sitting far from the factory selling a car they know nothing...
...industry's two leaders-Toyota Motor Co. and Nissan, which account for 70% of Japan's total production-are leading the push into overseas markets. Early attempts to export the underpowered, stiffly sprung cars built for Japan's potholedroads were flops. Now, says Kawamata, we do not "take second place to any make." Japan last year sold 266,000 cars and trucks from Kenya to South Korea. Best customer: the U.S., especially the West Coast, where Toyota's $2,000 Corona and Nissan's $2,300 Datsun are among the new rages on the road...