Word: krupp
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Dates: during 1970-1979
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Like Germany itself, the Krupp industrial machine, which has eagerly supplied the arms for military adventures since the days of Bismarck, rose stronger than ever from the ashes of both World Wars. Then, three years ago, a policy of borrowing short and lending long brought the mighty family empire to the brink of insolvency. In return for government guarantees of bank credit, Alfried Krupp, heir to the Krupp power and fortune, grudgingly agreed to relinquish his one-man rule. A public foundation headed by leading government and business officials was established to administer the family stock. Alfried, the last...
...concern has again rebounded from disaster. Company officers have just reported that after five losing years Krupp showed a profit of $12 million in 1969. The firm's vast range of products-among many other things, it makes tanks and false teeth, grows orchids and owns supermarkets-yielded sales last year of $1.6 billion, compared with $1.4 billion in 1968. The financial woes have been substantially eased. Short-term debt has been reduced by roughly $100 million, to a manageable $30 million...
Such imagery, put to the service of moral passion, has won Grass renown outside Germany as his country's most committed writer. "Much of what is the active conscience in the Germany of Krupp and the Munich beer halls," Critic George Steiner once put it, "lies in this man's ribald keeping." Characteristically impatient with grandiose claims of any sort, Grass rejects this sort of praise out of hand. For other reasons, a great many of his fellow countrymen reject the judgment too, particularly former Nazis, the middle class and petty shopkeepers of the older generation from whom Grass himself...
Long before Chancellor Willy Brandt began bidding for closer political ties with Communist Eastern Europe, West German Economics Minister Karl Schiller was pursuing a business Ostpolitik. Unlike Brandt's diplomacy, which is still in the negotiating stage, it has already produced a solid success. Last week in the Krupp company town of Essen, Schiller and Soviet Foreign Trade Minister Nikolai Patolichev toasted each other with Kupferberg Furst Bismarck champagne after signing what may be the biggest trade deal ever between the U.S.S.R. and a Western nation...