Word: ibm
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Dates: during 1970-1979
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...Sisters are all so enormous that their own executives find the figures mind-boggling. They fill seven of the eleven top slots in the list of the world's largest industrial companies; General Motors, IBM and Ford are the only U.S. non-oil firms in their class. In size, the Sisters easily match many of the nations they deal with. Exxon's assets ($38 billion) and Shell's sales ($39 billion last year) are about equal to the Italian national budget...
...when the oil runs out, Exxon since 1970 has acquired coal reserves of more than 8 billion tons, and now operates several mines. It is also pushing some ventures far removed from oil. For example, early this year it introduced Qyx, a computer-programmed typewriter designed to undersell wordprocessing IBM and Xerox machines. One indication of Exxon's strength: it plans a staggering $24 billion in capital expenditures over the next four years, to be financed just about entirely out of its own cash, with little if any borrowing...
...making company-paid pensions, medical insurance, longer vacations and similar fringes universal. Even the sons and daughters of diehard unionists feel they have no need to sign a union card in order to enjoy high pay, generous benefits and pleasant working conditions at big, high-technology firms like IBM, Kodak and Texas Instruments...
...newly rented since January. Says Lewis Rudin of Manhattan's Rudin Management: "I counted up $1 billion-that's billion-of privately financed new construction the other day." He listed, among other projects, the $110 million AT&T headquarters at 55th and Madison and the $80 million IBM building at 57th and Madison. There is an apartment shortage in Manhattan, with co-ops selling for prices that would have been impossible only a year ago. Luxury buildings like the Olympic Tower, opposite St. Patrick's Cathedral, and the Galleria, on 57th Street -both of which have penthouses...
...regime. As all United States corporations together employ 70,000 blacks in South Africa, to see how any improvement in their workers conditions will break down apartheid. At the same time, U.S. investors provide such crucial inputs as oil (40 per cent of the country's needs) and computers (IBM has sold them to both the Defence Department and the Atomic Energy Board in South Africa...