Word: kennecott
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...move marks the spread of a new strategy by which multinational companies hope to counter the threat of expropriation: the international legal blockade. Kennecott Copper Corp. had some success with the approach last fall, after the Chilean government of Marxist President Salvador Allende Gossens had expropriated its huge El Teniente mine without compensation. Kennecott got courts in France, Italy, Germany and Sweden to hold up payments by European purchasers for four separate shipments of copper from El Teniente, contending that the copper was in effect stolen property. The shutoff of European markets for the copper probably helped to build economic...
...companies can hardly put as much pressure on Gaddafi as Kennecott did on Allende. Allende was isolated, strapped for foreign currency and desperately dependent upon copper sales; Gaddafi has strong backing from other Arab oil states, commands huge reserves of foreign money and can find plenty of eager markets for Libya...
...hand man to FBI Director J. Edgar Hoover; George E. MacKinnon, 67, a longtime acquaintance of Richard Nixon; Roger Robb, 66, a Nixon appointee who used to represent Senator James Eastland of Mississippi; and Malcolm Richard Wilkey, 54, a former U.S. Attorney in Houston and onetime counsel for the Kennecott Copper Corp...
...profits sweep," because they are suspected of having exceeded Phase Ill's price rules and may now face rollbacks. Two of the industries are chemicals and electrical machinery. Businessmen apparently also have decided that the freeze was for real. U.S. Steel, Bethlehem Steel, Uniroyal, B.F. Goodrich and Kennecott Copper canceled or postponed increases that had been put into effect or scheduled...
...Broe gave Gerrity a list of American companies that might help in such a plan, "providing the economic course was feasible." Gerrity said that he was opposed to creating economic disturbances, but later organized, according to the testimony, at least two meetings with representatives of such companies as Anaconda, Kennecott Copper, Bank of America, Pfizer Inc. and Ralston Purina. The other companies were not willing to go along with such adventurism...