Word: exporters
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...Russophile and art collector is the chairman of Occidental Petroleum. He graduated from Columbia Medical School 56 years ago, but has never practiced medicine. While still a medical student, Hammer made his first million selling Pharmaceuticals. Later he worked in the Soviet Union, eventually building up a rich import-export business with the Soviets. At 59, he took over Occidental. Figuring that he would recycle some oil money into his original profession, Hammer last week donated $5 million to Columbia for cancer research, one of the largest private gifts Columbia has ever received. Says Hammer with a smile: "Being...
...unskilled, nonunionized workers are not at all comparable to the cradle-to-grave cosseting of the European worker. Mueller, who raises a few cattle on the side, has found the economics of building textile machinery in the Bible Belt so favorable that he has been able to develop an export business. One of his customers: the Soviet Union...
...west, allowing all things unattached to roll to the Golden State on the Pacific, it has by now regained its equilibrium. California has clearly lost the magic it once had, but it is not ready to concede that magic to any inheritors. Despite the state's export of so much of its culture and mores to the rest of the country, it may just be that the of California does not travel well...
...open a Swiss account without revealing their true identity. Anonymous banking, when it was allowed, was a powerful attraction for corrupt dictators and Mafiosi, among others, seeking to hide their funds. Under the new rules, Swiss bankers are barred from providing active assistance to customers who evade taxes or export capital illegally from foreign countries. The code also forbids bankers to accept funds that they have reason to believe were acquired by acts punishable under Swiss law, such as fraud and trafficking in narcotics. However, the code does not require the banks to investigate the background of every customer...
...Export Disadvantage. Increasingly, there are indications that among the Swiss public banking is no longer quite the hallowed institution it once was. Manufacturers feel that the flow of funds into Switzerland has overvalued the Swiss franc and thus put Swiss textiles, watches and machinery at a disadvantage in export markets. Says Swiss Accountant Max Fluri: "Our banking sector has grown taller than the Swiss Confederation. For some time, it has been bringing the country more harm than good...