Word: midlands
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...from Washington, where the House last week rejected the long- negotiated $500 billion deficit-cutting package, triggering a government shutdown and the furloughs of thousands of federal employees. "The government looks like it has lost control of the country," says Dwayne Andreas, chairman of the agricultural conglomerate Archer Daniels Midland...
...banking world, with its mightiest institutions surpassed by behemoths in Japan and Europe. U.S. banks have simply been outmuscled abroad by their bigger, better- capitalized foreign competitors, like Sumitomo and Fuji of Japan, the Deutsche and Dresdner banks of Germany and such other rivals as Credit Lyonnais of France, Midland of Britain and Union Bank of Switzerland. A glance at a list of the world's largest banks gives a clear view of the winners and losers in the bruising battle. Of the world's 20 top banks, 14 are Japanese, led by giant Dai-Ichi Kangyo (assets: $413 billion...
...dinner meeting of America's board of directors, heavily from the midland where they grow things and make things. Now that the Gorbachev glow has faded and the glitz is gone, George Bush and his crew have the tougher job of helping the Soviet Union gear up for the open world and the marketplace...
...their sales outside the country. This year's three biggest drug-company mergers all involved U.S. companies. Bristol-Myers (1988 sales: $6 billion) joined Squibb of Princeton, N.J. ($2.6 billion); Philadelphia's SmithKline Beckman ($3 billion) merged with Britain's Beecham ($3 billion); Merrell Dow ($1.3 billion) of Midland, Mich., merged with Marion Labs ($752 million) of Kansas City. "Pharmaceuticals is the one industry in which the U.S. firms are the biggest and growing the fastest," says Jay Silverman, a health-care analyst at the Nomura Research Institute in New York City...
Other alternative fuels are gaining popularity around the world. In smog- choked Sao Paulo, Brazilian drivers tank up with an ethanol blend that is 78% gasoline and 22% alcohol distilled from sugarcane. According to Illinois- based Archer Daniels Midland, ethanol blends account for 8% of all U.S. motor fuel. The mixture is readily available in parts of the Midwest at stations that display the gasohol symbol, an ear of corn...