Word: milliones
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Dates: during 1970-1979
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...Iranian statement was not correct. It and the six other U.S. banks in the syndicate voted, over the protest of the four non-U.S. banks involved, to declare the default. The U.S. banks could use the Iranian assets frozen a week earlier to offset their own $300 million share of the loan, but the non-U.S. banks (two Swiss, one British and one Canadian) had no such recourse. Their only options were either to activate a so-called cross default clause and foreclose on the Iranian government in court for the remaining $200 million, or to refloat their...
...started a company that ten years ago had revenues of $6.5 million; in fiscal 1979 they hit $445 million; next year after acquiring a firm that leases containers for ships, they are expected to reach $650 million. Grossman leases and manages vehicles and now commands a larger fleet than the U.S. Postal Service: 275,000 autos, trucks, trailers, forklifts and refrigerated vans. His customers include 85% of the FORTUNE 500 and thousands of other firms from Mexico's Yucatán to Canada's Yukon and into Europe. More than that, from his glass-walled office overlooking aptly...
Packages move; Gelco bought a courier service that in fiscal 1979 did $65 million in business and, helped by mass marketing and computerized control, may top $95 million next year. People move; Grossman is building a service by which corporate travel will be handled by a central reservation and billing service. He also watches over that wondrous American institution: the expense account. Companies can require that salesmen and others on the expense account submit their claims to Gelco's computers, which check them for any excesses...
...Last week von Opel found herself behind walls and bars facing a ten-year prison term after a French court in Draguignan found her guilty of financing a 1977 scheme to import Middle East hashish into West Germany, and Italy via Saint-Tropez. Why should an heiress worth $70 million involve herself in a drug ring? Neither von Opel nor any of her seven co-defendants ever said, but the longer her three-week trial went on, the more it became apparent that she was less a pawn than a principal in the plot. Cousin Günter Sachs, himself...
Ever since Christianity first reached it 1,100 years ago, the Ukraine has been strongly religious. Located southwest of Moscow, the region, with a population of 50 million, is agriculturally rich and deeply nationalist. In the 1930s Stalin all but crushed the autonomous Ukrainian Orthodox Church and in 1946 expunged Eastern-rite Roman Catholicism in favor of the more easily controlled Russian Orthodox Church. Even so, the Ukraine by official count still has 4,000 of the 11,000 Orthodox churches now open in the U.S.S.R.-only a fraction of the 53,000 churches in Russia before 1917. Protestant Ukrainians...