Word: interlocking
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Dates: during 1960-1969
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...apiece. Bata's annual sales are estimated to be around $400 million. But the company is controlled by an interlock of trusts and foundations, and the seven regions into which Bata has decentralized operations keep separate, and secret, books, Bata himself is as interested in world affairs as in money. He reads foreign policy treatises for relaxation, travels 150,000 miles annually with his svelte wife Sonja, 38, inspecting regions and making courtesy calls on Presidents and Prime Ministers. Bata hires local labor for each plant but likes to shift key men from country to country: his Algerian plant...
TAMSA made a profit from the very beginning by selling pipe to Mexico's Pemex national oil monopoly, last year earned $4,500,000. Most of Pagliai's deals interlock in some way. Pagliai has helped to finance TAMSA's export sales through a finance company, Intercontinental S.A., that he created with the capital aid of such cronies as Germany's Alfried Krupp and big U.S. Investment Banker Charles Allen. Intercontinental S.A. has helped finance foreign investments in Mexico and raise large foreign loans for the Mexican government as well as for Pagliai...