Word: millions
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Dates: during 1960-1969
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West Germany is Israel's third best trading partner, after the U.S. and Britain. Imports from West Germany nearly doubled last year, to $115 million. The bulk consisted of machinery and steel, including supplies for the trans-Negev oil pipeline built to bypass the Suez canal. Consumer goods, notably more than $10 million worth of autos, took up a good share of the total. Though many Israelis still flatly refuse even to ride in a Volkswagen-and more than just a few North American Jews will not consider buying VWs-German autos outsold those of all other nations...
...fruits of commercial fraternization are also growing fast on German ground. In 1968, West Germans bought $56 million worth of Jaffa oranges, polished diamonds, flowers, tires and other goods. Their purchases amounted to 10% of Israel's total exports. Last month thousands of Stuttgart residents strolled the city's main streets, peering into shop windows that displayed jewelry, clothes and other products during an "Israeli Week." Trade between the two nations is certain to go up much farther, according to officials of both. Partly because of a 40% tariff cut on citrus, just granted by the Common Market...
Ironically, the trade links between the two countries were created by what the Israelis call "blood money." Their industry was set up largely with the help of $900 million in reparations, which Bonn paid from 1953 to 1965, stipulating that most of the funds had to be spent in West Germany. Once the payments ended, trade replaced aid. Much of the German machinery acquired in the 1950s now needs replacement, and orders are flowing into Germany. Bonn has also buttressed the buy-German trend by providing $115 million in development loans since...
...first Marshall Field, who made much of his $100 million fortune† in land speculation during the late 19th century, once remarked: "Buying real estate is not only the best way, the quickest way and the safest way but the only way to become wealthy." For decades, major U.S. industrial and financial corporations ignored the Field formula, leaving the business of real estate largely to its own local operatives. Now the trend is running the other way. So many huge companies have been expanding into real estate and building that the nation's largest industry, construction, is undergoing...
...giants hammered together a joint enterprise. Hartford's Aetna Life & Casualty (assets: $8.6 billion) agreed to go into a partnership with California-based Kaiser Industries and Kaiser Aluminum & Chemical Corp. They expect to move into commercial, industrial, residential, recreational and agricultural real estate. The three will pool $175 million in cash and properties. Among the latter are Aetna's 630-acre Warner Ranch near downtown Burbank, the Kaiser Companies' 6,000-acre Hawaii Kai residential and resort complex in Honolulu and the 87,500-acre Rancho California project 80 miles southeast of Los Angeles. In a similar...