Word: freeport
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Dates: during 1990-1999
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...know what an F.O.B. is in Washington?" asked James Moffett, CEO of Freeport McMoRan Copper and Gold, the giant mining company based in New Orleans, in a recent newspaper interview. "It's friends of Bill. That's how you get contracts with the U.S. government. And before that, it was friends of Bush. And before that...
Welcome to the one-hand-washes-the-other world of "Jim-Bob" Moffett, a former University of Texas football star, geologist and amateur Elvis-impersonator who built Freeport into a mining behemoth with annual revenues of almost $2 billion. Moffett himself is an F.O.S., or friend of Suharto, the ousted dictator of Indonesia, a country that is now a fuse in search of a match. An often violent election campaign leads up to voting on June 7 that could bring to power reformers long critical of Freeport...
Indonesia is the site of Freeport's most important asset, the Grasberg open-pit mine, developed under the auspices of the Suharto regime. A giant crater scooped out of a mountainside in the jungles of Irian Jaya, on the Indonesian half of the island of New Guinea, the $60 billion mother lode contains one of the world's largest single deposits of copper and gold...
...largest New England state, Maine, boasts both a beautiful, lighthouse-studded coastline and majestic inland mountain peaks. The AT terminates at Mt. Katahdin, and shoreline ports at Kennebunk and Bar Harbor draw thousands of visitors annually. Tourists also flock to Freeport to shop at L.L. Bean...
Rags-to-riches stories don't come any better than Robert Johnson's. The ninth of 10 children, he grew up poor in Freeport, Ill., earned a place at Princeton and worked as a cable-industry lobbyist. He founded BET in 1980 with $15,000 in borrowed money, convinced he could mine gold from ore that others had found less rich. Marketers have known forever that black consumers have a ton of money at their disposal--$425 billion annually--and are quality conscious and extremely brand loyal. Johnson not only created a brand, BET (Black Entertainment Television...