Word: nickels
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Dates: during 1960-1969
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Seven oil-exploration contracts have been awarded to eager bidders, among them the U.S.'s Continental and Union Oil companies. Surveying for copper, Freeport Sulphur Co. recently found high-grade (4%) ore, and may invest up to $100 million to exploit it. International Nickel just got the go-ahead to start a $1,500,000 survey of nickel deposits on the island of Sulawesi (Celebes), and may invest $100 million. Bethlehem Steel has expressed interest in tin deposits, Boise Cascade in logging concessions. ITT agreed to build a satellite relay station near Djakarta at a cost...
...Some days you can't make a nickel," groaned William S. Gaud last week after Congress called for an accounting of corruption and mismanagement in the Agency for International Development. The AID administrator's dejection-if not his figure of speech-was understandable. In the past month, three separate cases of "irregularities," resulting in the suspension or resignation of five officials, have plagued the agency. At the same time, a State Department report on AID'S operations catalogued at least $6.5 million worth of waste and inefficiency in 30 countries from Afghanistan to Viet...
...million worth last year). Together, the two lines achieved savings averaging $35 million annually. By merging with the Norfolk & Western, they estimate that they can save another $30 million a year. The merger would create a system every bit as affluent as the Penn Central. It would include the Nickel Plate and the Wabash, already owned by the Norfolk & Western, as well as the Erie Lackawanna, Delaware & Hudson, and Boston & Maine, which the ICC already has ordered the Norfolk & Western to absorb...
...slated to preside over the Penn Central, fittingly enough, is the man who started the merger trend. It was Saunders, as president of the Norfolk & Western, who arranged for the takeover of the Virginian Railway in 1959 and laid the groundwork for the N. & W. to acquire the Nickel Plate and the Wabash. Born in McDowell, W. Va., Saunders grew up in Bedford, Va., within sight and sound of the N. & W.'s main line through the coal fields. He attended college in the town where the N. & W. has its headquarters. Even after he was graduated from Harvard...
...nickel, I'll get a dime, We'll go out and buy some wine...