Word: millions
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Dates: during 1960-1969
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Siemens must export to survive; the domestic market simply will not support the company's huge research expenses, which last year amounted to $140 million. Its communications research center in Munich has 4,330 scientists; at the Erlangen lab near Nürnberg, 500 nuclear technicians made possible the Argentine generator sale. While most European firms depend upon American processes and patents, Siemens has sold $50 million more patent rights since the war than it has bought. If asked about the so-called technology gap between Europe and the U.S., Erwin Hachmann, 55, a member of Siemens' three...
...government in late 1966, the I.R.C. is authorized to draw up. to $360 million from the national treasury to promote and help finance regroupings in British industry. To many opposition Tories and business leaders, the I.R.C. smacks of "back door nationalization," under which the government could wind up with a dominant voice in the new industrial combines that it fosters. In fact, the I.R.C.'s own managing director, Merchant Banker Ronald Grierson, made no secret of his growing distaste for Wilson's interventionist economic policies, finally quit his post last October...
Sport-Cola achieves that distinction by foregoing the extra dose of caffeine that most cola makers add to the tiny quantity present in kola nuts. In name and formula both, the beverage is aimed primarily at the 80 million U.S. youths under 20, who account for almost half of cola-drink consumption. Says Canada Dry President David J. Mahoney: "We're giving the consumer one more choice...
...Mahoney could restore Canada Dry's bubble, profits sank to a dismal $658,950 in fiscal 1967 (partly because he junked $1,560,000 worth of obsolete wooden cases and deposit-type bottles). But in the nine months ending last December, sales shot up to a record $155 million and profits rebounded to $2,890,000. Naturally, nobody is more delighted than Norton Simon, a notably tough taskmaster. "Dave has done sensationally considering the time he's been aboard," says Simon. "Canada Dry is a substantially rejuvenated company." Wall Street agrees. From...
...tend to feel that it has accomplished too little. Though limited in staff size as well as funds, the I.R.C. has indeed played an active role in relatively few of the country's many recent mergers. One of its notable public achievements was its help, including a $42 million loan, in arranging the marriage of Elliott-Automation and English Electric into a single $990 million-a-year computer-making company. The I.R.C. has also worked behind the scenes on even bigger deals, including General Electric Co. Ltd.'s acquisition of Associated Electrical Industries Ltd. For that, however...