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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...
Promotional Blitz. Finally, the President also agreed to redeem a campaign pledge to the maritime unions, whose members provided generous financial support (an estimated $6 million) for his campaign. Carter agreed to back legislation that would require at least 9.5% of all U.S. oil imports to be shipped in American-flag vessels by 1982. Greater use of the more expensively operated U.S. ships would eventually create jobs for 2.500 additional U.S. seafarers and. at the very least, add $110 million in increased transport costs to the nation's oil import bill...
...Patterns. The capital invasion is heartily welcomed by Washington. Commerce Department officials eagerly note that besides helping to offset somewhat the U.S.'s currently huge import bill (TIME, July 11), foreign investments in manufacturing have helped provide jobs (1.5 million by Commerce's reckoning) and broaden the tax base of local governments. Foreigners, for their part, are often surprised by the freedom of operation they enjoy in the U.S. Foreign businessmen find a tolerance of competition that would be inconceivable in their own countries. Example: Lucas Industries, the big British auto-parts maker, dispatched...
Like Monopoly. As disaffected investors tell it, Holzer used her Hair-built Broadway fame to recruit backers for a wide variety of foreign import, commodity and real estate deals. She started out with a small group of associates, friends from the Spanish community and Broadway chums, to whom she would casually murmur, say, something about how she had an opportunity to make a bundle on Japanese automobiles imported to Indonesia. At first the results were impressive. One woman gave her $5,000 and made a $12,260 profit within a year. She then got some friends...
...enthusiast in a different manner. Some 20 years after Admiral Perry revealed Japan to the world, an American university professor taught some of his students how to play baseball. Since then, the nation has been hooked. Each year, some 12 million fans jam its stadiums to eat an American import called the hotto dogu and scream "ganbare" (Let's go) as Japan's twelve professional teams battle each other with the ferocity of a samurai...