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LOCKHEED Aircraft Corp., a pioneer in plane building and long the biggest U.S. defense contractor, has gained fame through its Constellation and Electra aircraft, its Polaris and Poseidon missiles, its U-2 spy plane. Rolls-Royce Ltd. has become one of Britain's brightest industrial ornaments by making the most luxurious cars in the world, as well as engines for the Concorde supersonic jet, nearly every plane in the Royal Air Force, and rocket and diesel motors for road, rail and water transport in more than 100 countries. Last week those two storied giants threatened to push each other...
This week Europe's biggest and most promising combination since World War II will take place. Britain's Dunlop Co. Ltd. and the Italian-based Pirelli Group will get together to form the world's third largest tire company, which will have 180,000 workers in 210 factories and sales of $2.3 billion, based on 1969 levels. When the totals for 1970 are in, Dunlop-Pirelli may well roll past Firestone, the No. 2 tiremaker, and gain ground on front-running Goodyear. Both American firms have been hurt by the General Motors strike and by economic sluggishness...
...interests in oil wells and other holes in the ground, tried to come to Cornfeld's rescue with a loan. Instead, King himself was caught in a money bind and ousted by his board. Keith Barish, 26, a financial whiz who had made Nassau's Gramco Management Ltd. the second-ranking offshore mutual fund complex, was also hit by a wave of fund redemptions that forced him to suspend some operations. Several big-thinking Texans were deflated. James Ling, whose merger magic had expanded a tiny electrical firm into a $3.75 billion conglomerate, Ling-Temco-Vought...
...hint of very good-natured satire. Perelman finds himself ignored, insulted, and humiliated by a series of British clerks, in what appears to be a conspiracy to make the customer suffer. He discovers by accident that it is all the work of a company called "Creative Humiliation Associates, Ltd.," which teaches clerks how to "protect" themselves from the customers. "Well, we teach em the dynamics," the manager explains, "woolgathering, disdain, the snub direct and implied, Schadenfreude, the mechanics of sniggering, simple and compound exacerbation-the lot." But all is not lost-they're planning a course for customers as well...
...combine will have 3,000 offices, 50,000 employees and deposits of $12.3 billion, making it the world's fifth-ranking bank establishment (after the Bank of America, First National City, Chase Manhattan and Britain's Barclays Bank Ltd.). The agreement is the first of its kind in the Common Market, and moneymen regard it as an important trend setter. U.S. banks have won much business in the Market, and the entry of Britain would open the Continent wider to the City of London's powerful banks. Europeans see multinational combines as the logical way to compete...