Word: milles
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Dates: during 1990-1999
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...distant age of sensitive nineteenth-century guys, Franz Schubert joined the bandwagon of paesan Johann Wolfgang von Goethe and fellow German Romantics, over-analyzing every passing emotion and fluttering of the heart. Here in the twenty-song cycle of Die Schone Mullerin (The Fair Maiden of the Mill), Schubert indulges his delicate sensibilities with harmonically textured compositions set to the often silly poetry of Wilhelm Muller. Schubert wrote more than 600 of these "lieder" (songs), elevating it to a major musical art form...
...last week's congressional battle the issue was the fate of a pulp mill owned by the Ketchikan Pulp Co., a division of Louisiana-Pacific Corp. that employs 600. It's a high-cost operation that relied on below-market-cost timber from the Tongass to make dissolving pulp, a cellulose product that shows up in everything from rayon to ice cream. Tongass timber was cheap because in 1954 the Federal Government gave KPC a 50-year contract guaranteeing the mill rights to vast amounts of Alaskan timber at fire-sale prices. In 1990 Congress tried to redress this giveaway...
While the Senator blustered, Louisiana-Pacific was getting ready to toss the mill overboard. Why? As a financial proposition, logging in remote, southeast Alaska is problematic because of the high cost of Alaskan labor and the expense of building logging roads. Now, with pulp prices falling, the company is facing increasing competition from mills with cheap labor and fast-growing trees...
...plays the corporate-villain role well. Charlie's sin? He owns the trees, and he'll cut them if he wants to--and does he want to. In 1986 his company, MAXXAM (1995 sales: $2.57 billion), bought Pacific Lumber, the redwoods' owner. Hurwitz visited PL's Scotia, California, mill, and told workers he believed in the golden rule: "He who has the gold, rules." Then he drained $55 million from PL's $93 million pension fund, and cranked up the timber cut to pay off his debt. A redwood 300 ft. high and 18 ft. in diameter can bring...
Like Sutter's Mill, which in 1848 bestrode a gold-laden California stream, Fidelity has for years flushed a rising river of investment through its machine, enriching both customers and company. One out of every 50 households in America owns shares in Magellan, which has grown to a staggering $50.97 billion. Fidelity invests more money for the employee savings-and-retirement plans known as 401(k)s than any other institution: $111.4 billion...