Word: israelities
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Dates: during 1950-1959
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France's government-owned Renault Co., world's No. 6 automaker, last week canceled its contract with an Israeli firm to assemble its cars in Israel. Reason: fear of an Arab boycott. To the Israelis it was an old story, but a particularly galling example. Obviously De Gaulle's government had consented to the move, and Israelis thought they knew why: subordinating all else to an Algerian solution...
Gaulle was doing all he could to mollify Arab states that might be useful intermediaries with the Algerian rebels. Events had moved a long way since France and Israel, out of common enmity toward Nasser, had cooperated in the Suez invasion...
...charges of treason, in what became (with Emile Zola's help) the classic example of anti-Semitism in the French army of the day. Motormaker Dreyfus said that his stand on the Israeli contract was strictly business. In four years Renault has sold only 3,800 cars in Israel. "It is not possible for us to sell in the Arab countries and continue the assembly operation in Israel at the same time," he explained, "for reasons that we regret as much as you do yourself...
...Middle East-Turkey, Iran and Pakistan -were badly shaken. To reassure them, the U.S. hastily signed bilateral defense treaties with each. (Unlike Britain, which is a full partner, the U.S. has consistently refused formal membership in the pact for fear of stirring up new resentment in India, Israel and most of the Arab states.) With this encouragement, the pact members moved their headquarters from Baghdad to Ankara, and rustled up a new name: the Central Treaty Organization...
...Cash. In mid-September, Jasper & Co. ran out of cash. Shareholders who had accepted the Jasper bids were not being paid off. Within three days the market value of Jasper's empire fell from $48 million to $33.5 million, and Jasper sadly announced that Grunwald had fled to Israel. Building Society stockholders were offered only one shilling (16?) payment on their shares a month...