Word: ownership
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Dates: during 1980-1989
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Increasingly, the big movers and shakers direct their funds not only in and out of U.S. stock markets but abroad. Last year Americans bought additional foreign shares worth $12.8 billion, bringing their total overseas stock ownership to some $41 billion. The number of U.S. mutual funds devoted exclusively to foreign equities has nearly doubled in the past two years, to 43. Foreigners, on the other hand, bought $30.2 billion worth of U.S. stocks last year, bringing their holdings to $126 billion. By last June that total had climbed again, to more than $139 billion...
...they withdraw from direct ownership of South African businesses, corporate giants like General Motors and IBM are striving to extricate themselves from a moral and economic slough of despond. Yet their actions have been raising questions in both South Africa and industrial nations around the world about just what the pullouts can hope to achieve. Some critics charge that the companies are merely retreating to the ethical high ground while continuing to operate in South Africa through licensing and sales arrangements...
...four new pullouts immediately raised the question of whether such departures will force South Africa into a future of bleak economic isolation or simply transfer assets to local ownership with no substantial effects on apartheid. Only one thing is certain: more and more American companies are bound to follow suit...
...corporate departures from causing the widespread loss of jobs, specifically black jobs, that South African officials had often predicted. The entire GM work force of 3,000, for example, 60% black, will stay on the job at the company's Port Elizabeth assembly plant under the new ownership...
Still, even this controversy did not raise the question of the overpass' ownership...