Word: marketeers
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Dates: during 1970-1979
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...market is worth maybe $2 billion a year, which in Detroit's terms is penny ante. But sales abroad of cars made in the U.S. are rapidly increasing. General Motors last year exported 125,000 cars, up from 98,000 in 1977, and both Ford and Chrysler are doing well. The strongest demand is from Western Europe, especially Switzerland, Belgium and the country where people have prided themselves on making some of the world's best cars, West Germany...
...know why I was invited. We already have a woman on our board." Another problem for women is that most of them do not yet have jobs as senior as those of the men who get on boards. Says Rosalie Wolf: "Much of the job market was closed to us until ten years ago. We are still building the credentials that we need...
...cartel's profit motive was much in evidence at an Arab energy conference in Abu Dhabi last week. Delegates bitterly attacked Western oil companies for trading oil back and forth among themselves at extortionate prices on the small but highly volatile spot market. Mani Said Utaiba, Oil Minister of the United Arab Emirates and president of the cartel, suggested that at its next meeting on March 26 in Geneva, OPEC should take up the idea of blacklisting offending companies and refusing to sell oil to them...
...only is Iraq raising its official price for long-term petroleum contracts, but it is also selling shipments on an individual basis at the even higher spot market prices. Nigeria has also reportedly made deliveries to Israel for as high as $23 per bbl., vs. the official OPEC price of $13.34. Oilmen say that Libya's purpose in reducing sales under long-term contracts is both to prop up the price and to have some additional tonnage of its own to gamble with...
Such tactics have caused oil executives to mutter about drawing up a blacklist of their own, perhaps to refuse to deal in the spot market with OPEC countries that will not honor their legally binding contracts. Said Clifton Garvin Jr., chairman of Exxon: "It is our belief that we should not buy oil at present high spot market prices." Others do not seem so confident. Last week Royal Dutch/Shell, a major customer of Iranian crude before the ouster of the Shah, was back in the loading queue for a new supertanker cargo at an undisclosed price...