Word: millions
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Dates: during 1960-1969
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...without the depletion allowance, and claim that the allowance is necessary to spur further development. Despite the likelihood of a cut in the allowance, however, the managers of Atlantic-Richfield, British Petroleum and Jersey Standard believe that the find will be so profitable that they plan to invest $900 million in an 800-mile pipeline. It will bring the oil to the ice-free port of Valdez, Alaska. In order to expand its marketing of Alaskan oil, British Petroleum last week announced its intention of merging with Standard Oil of Ohio, whose stock promptly shot up 271 points to close...
Spain's biggest postwar industrialist, Eduardo Barreiros, in 1964 made what he then called "the best and most stimulating deal of my life." For $18 million, he sold a 35% interest in his family-owned Barreiros Diesel S.A. to Chrysler Corp., and the company started producing Dodge Darts and French Simcas in Spain. "There are no better business partners than the Americans," he said. Today he thinks differently. He has quit as president of the firm because, although the deal greatly increased his wealth, he sank in a few years from Spain's No. 1 industrialist...
Pride v. Efficiency. Actually, Barreiros had had little control of the firm for some time. After the first disap pointing year of partnership, when car output was barely half of his overly optimistic goal of 92,000, Chrysler invested another $20.5 million to save the enterprise from caving in. In 1967, Chrysler raised its interest in the company to 77%. Barreiros was still president-and his brothers Valeriano, Graciliano and Celso were all members of the management group-but his family had only a minority voice. Unmistakably, Chrysler then started running the company through its own efficiency-minded...
...company admits that it lost "several million" dollars in 1968. The Dodge Dart, priced at $3,400 in Spain, proved much too expensive and ostentatious even for government leaders. Last year, sales of Darts slipped to only 1,598, and Simcas to 31,106, out of a total Spanish car production of more than 300,000. To help the company get back on its feet, Chrysler planned another $30 million stock offering, which would have further reduced Barreiros' share of ownership. That, most likely, was what prompted Barreiros and his brothers to resign, though they still retain about...
Though Meyer's films have grossed $11 million in ten years, the profits, he claims, have been incidental. "My turn-on," he says, "is making movies that entertain me." Unfortunately, like those other pioneers, Kinsey and Masters, Meyer may live to see himself trampled in the sexual revolution. "I am worried about Am Curious (Yellow)," admits Meyer (46-38-42). "That film has put me at a crossroad. I have never shown genitalia in any of my films. Once you have to show that to get people into the theater, how many people are going to do it with...