Word: millions
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Dates: during 1960-1969
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...spent three years as assistant publisher of LIFE and another three as publisher of FORTUNE before returning to TIME as publisher. During his stewardship, TIME'S circulation has grown 20% to its present 5,300,000, and advertising revenues have climbed 25% and will reach $125 million...
Though other crises in other trouble spots have diverted attention from the war between Nigeria and its breakaway eastern region, that plight remains desperate. In England a conference of the World Council of Churches voted to collect $5 million from member churches to aid the people of warring Biafra and Nigeria. The churchmen also called on Nigerian leaders to end an air blockade that has kept many of Biafra's 7,000,000 people on diets that are hovering barely above the starvation level...
Mother Hen. The work was started in mid-1967 by Quintana's Ingenieros Civiles Asociados (ICA), which owns outright or has an interest in 33 firms in Mexico. The ICA group employs 30,000 people, more than any other private enterprise in Mexico, and had sales of $220 million last year, the equivalent of 1% of the country's gross national product. Outside Mexico, it is engaged in heavy construction work in Guatemala, Honduras and Nicaragua...
...addition to taking over controlling interests in the firms, Zambia will substitute 25-year leases for their existing leases "in perpetuity," and replace the present 44% royalty and export tax with a 51% mineral tax. The nationalized companies' holdings have a book value of about $784 million. Kaunda expects to pay shareholders for their loss entirely out of future copper profits. These are already so heavily taxed that even if dividends are maintained at their present level, the Zambian government can hope to realize only $5,000,000 a year from the two companies' $1.1 billion-a-year...
...three years, foreign investors have been understandably slow to sink new funds into operations there. Peru's military junta has frightened outside investors by its seizure of International Petroleum Co.'s properties last October. The U.S.-owned Southern Peru Copper Corp., which was ready to invest $350 million to develop its copper ore concession a year ago, now seems less interested in expansion, and is refraining from committing itself until it has a better idea of the junta's plans...