Word: ibm
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Dates: during 1970-1979
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...Chilean socialist and the American union bureaucrat were both pointing to the same phenomenon: the growing domination of the world economy over the past two decades by multinational corporations--giant firms with operations scattered all over the world. Multinationals, such as ITT, Anaconda Copper, IBM, and General Electric, coordinate production, distribution, and sales on a global scale rather than within the confines of a specific national economy. Consequently, their commitment to any particular country in which they operate is limited to the ways that country can serve as a means to its ultimate ends--the maximation of the overall profits...
...code is an anachronism but a good anachronism. People used to say the Army is just like IBM, but it is not. The purpose is far, far different. This is quite true when the blast of war blows in our ears. The word of one officer to another has got to be utterly reliable. You can't afford to have any doubts about somebody's word in combat...
Frank T. Gary, LL.D., chairman of the board of IBM...
More striking still is the contrast between the onetime peak and present P/Es of some individual stocks. Samples: Polaroid, a high of 114 v. 18 now; McDonald's, 81 v. 26; Xerox, 63 v. 16. At one point in 1968, IBM was selling at $701.50 a share, or 161 times earnings, giving its stock a market value equal to all the shares in all the oil companies in the U.S. Now, at $256 a share, IBM is priced at a modest 18 times profits...
...based its future policy on close cooperation with Prime Minister Vorster's apartheid regime. The U.S. is deeply involved in the South African economy. American investments amount to at least $1.6 billion, and American sales in South Africa were up to $1.1 billion in 1974. American corporations such as IBM, Polaroid and Boeing are mainstays of the South African police state, providing military and administrative devices for repression. General Electric applied last week for permission to sell nuclear arms to Vorster's government. The U.S. government has a strategic interest in retaining control over the sea routes of the South...