Word: ownership
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Dates: during 1960-1969
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What Donner proposes is a vast broadening of industry's base that would make "the ownership of international corporations truly international." Before 2,500 delegates from 50 nations who attended the Eighth International Congress of Accountants in Manhattan last week, Donner argued that stock ownership of worldwide companies by the citizens of the countries where they operate would be a "natural complement to the rapidly widening acceptance of free world trade...
...Capitalism. The era of global stock ownership is not yet at hand. Overseas investors, particularly in underdeveloped nations, are still reluctant to put money in "foreign" companies-however much the investment may benefit their own economies. In many countries, including 15 of the 20 nations where G.M. has subsidiaries (all of which are now wholly owned by the U.S. firm), governments have laws specifically limiting their citizens' opportunity to hold foreign stocks. Tax laws also would have to be revised so that dividends were not taxed by the U.S. and foreign governments as well...
...highly secret negotiations, France's Beaumont family, which has owned the vineyard since 1670, is wrapping up the final details of a deal that would give co-ownership of Chateau Latour and its annual output of precious claret to Britain's Harvey's of Bristol Ltd. And as a world-girdling distributor of wine and spirits, Harvey's has no intention of sharing its cup with the middlemen of Bordeaux...
...National Bank, he bought Asia's largest sugar refinery, the Binalbagan-Isabela Sugar Co., Inc. Last year, after expanding the Lopez holdings to include more sugar mills, a cement company and a jute-bag plant, the brothers pulled off their biggest coup. Worried by a campaign against foreign ownership of Philippine utilities that was sparked by the Lopez-owned Chronicle, the U.S.-owned General Public Utilities Corp. decided to sell off its big, well-run Manila Electric Co. Head of the government-underwritten Philippine syndicate that bought Manila Electric: Eugenio Lopez...
...White House that one big U.S. carrier is necessary to withstand the competition of heavily subsidized state-owned foreign airlines. A shadow over the possible TWA-Pan Am combination is the attitude of elusive Industrialist Howard Hughes, who was forced by creditors in 1960 to put his 78.2% ownership of TWA in trust and is now trying to win back voting control through a suit he has in the courts. He would hardly cheer a merger in which he did not have the principal...