Word: kassel
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Dates: during 1960-1969
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...revelry at the Venice Biennale fortnight ago hung the disconcerting possibility that even as this famed old exhibition displayed its own mediocrity and disorganization, a lesser-known art festival 400-odd miles to the north was preparing to put on a top-grade show. The newer exhibition is at Kassel, where the Brothers Grimm lived, located at the geographic heart of Germany, and it is called Dokumenta...
Suspicion of Fraud. Under German law, prosecutors need not immediately bring charges against arrested suspects, and the Koblenz prosecutors directing the Henschel case were tightlipped. Ruhr-born Goergen was simply confined to a Kassel jail on "suspicion of fraud against the German government." But in the German business community, the word spread that the charges involved faked invoices and old parts passed off as new in a $16 million defense contract awarded to the Henschel Works to provide spare parts for U.S.-built M-47 and M48 tanks used by the West German army...
...Goergen built Phoenix-Rheinrohr into the nation's second largest steel company before he and Widow Amelie Thyssen, his principal stockholder, split in a disagreement over policy. With the $600,000 settlement that he received after resigning, Goergen bought into Henschel, a once mighty steam-locomotive maker in Kassel that had sagged into receivership because it had underestimated the diesel locomotive...
...third biggest automaker, after General Motors and Ford-Nordhoff plans to spend $375-500 million on expansion in the next five years, lift Volkswagen's annual capacity to 1,500,800 autos and minibuses. At its Wolfsburg headquarters, Volkswagen is building a new 400-acre plant, and at Kassel 2,500 workers are bustling to complete another 1,400-acre plant. Now Volkswagen has decided to build a fifth plant at the North Sea port of Emden, where the projected output of 500 autos a day will be used solely for export. Construction begins next month...
Souvenir. Today, on the wall of his Kassel board room, Fritz-Aurel Goergen displays a selection of letters from his German bankers. Written as late as January of last year, they all protest nervously at his ambitious expansion plans for Henschel. A target of $122 million in sales for Henschel, complains one of the letters, is "intolerable." Says Goergen, whose sales have already hit $125 million and are still growing: "Putting those up for all to see is the revenge of the little...