Word: firmness
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Dates: during 1970-1979
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...stories and editorials on the topic. How then could you accept an ad of more than half a page in last Wednesday's Crimson from De Beers Consolidated Mines, possibly the biggest exploiter of black miners in South Africa? The prices for those diamond rings no doubt bring the firm quite tidy profits (probably larger than the ad brought you). And, no doubt, the company would like to continue making those profits and exploiting those miners. You're helping. Ladies and gentlemen of The Crimson, I think that's called hypocrisy. H.T. Werbie...
...takeovers in this year of furious financial raiding, one has raised howls of hearty laughter among Wall Street insiders and others. It is the takeover by Kennecott Copper Corp. (1976 sales: $956 million), the nation's largest copper company, of the Carborundum Co., a Niagara Falls-based diversified firm (sales: $614 million). Reason for the mirth: Kennecott paid the astonishing price of more than $560 million, or $66 a share-twice Carborundum's book value. Many of Kennecott's nearly 72,000 stockholders were sclerotic over the deal. Some had hoped that the company would eventually distribute...
...Standing firm on the 100% policy
...Chairman Frank T. Cary said that the withdrawal decision was "a great disappointment," but insisted that the firm had no alternative. India's ruling Janata Party, in vigorously enforcing the nation's 1973 Foreign Exchange Regulation Act, is pressing hard for at least partial Indian ownership of foreign companies operating in the country. A total of 57 foreign firms have decided to close down their Indian plants rather than meet demands for some degree of Indian ownership. One company under pressure: Coca-Cola, which has all but stopped making Coke in India. The company had been ready...
From its peak in 1969, when sales totaled $28 million, the firm slid deeper into trouble until its creditors forced it into reorganization. Only last week did the big flagship Manhattan store attract the kind of crowds it had needed to survive. Thousands flocked to its doors, some to hunt bargains in the terminal close-out sale, others just to be there before lights in the paneled rooms went out for good. As the incongruously jaunty sales ads put it, "Well, Ezra, all good things must come...