Word: moneys
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Dates: during 1970-1979
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Though the foundations did do some charitable work, the Shah invested most of their money in income-producing assets. In a new book, Iran: The Illusion of Power, British Journalist Robert Graham published a 3½-page list of holdings of the Pahlavi Foundation that he was able to track down as of the end of 1977 and that he estimated to be worth $2.8 billion to $3.2 billion. They included total ownership of Bank Omran, one of Iran's largest banks; 80% ownership of Bimeh Melli, the nation's third largest insurance company; and full or partial...
...reopened, but only half of its looms are being used. Reason: a lack of spare parts for the steam boiler that drives them. Complains Manager Tiv Chhivky, 45, "I don't know what parts to ask for. We want to reconstruct, but we don't have the money...
...mighty new weapon-the lawsuit -is being rolled out in the economic power struggle between the U.S. and Iran, and the battling is shaking the money markets. Lawyers last week went on a suing spree, grabbing up Iranian corporate and industrial assets not only in the U.S. but also in West Germany. The free-for-all rush after Iranian booty put investors and businessmen on edge, rattled money markets and in the process helped send the dollar into a renewed slide while pushing gold back up to more than $400 per oz. In the scramble, banks even wound up suing...
...bills also require the company's banks to make additional unsecured loans on top of any federally guaranteed funding. Some bankers are unwilling to pour more good money into Chrysler. "There is a reasonable chance that loans might not be repaid," warned Citibank's chairman Walter Wriston...
...company's 102 lenders fear that if guarantees are granted, but Chrysler still goes bankrupt, federal law requires the Treasury to have a first claim on its assets. Probably not enough money could be raised from selling off its plants and other assets to cover both federally guaranteed loans and Chrysler's burdensome debts. So if Chrysler slid into bankruptcy -a real possibility because its survival plan depends not only on federal guarantees but also on many optimistic projections-the Government would grab most or all the assets...