Word: parental
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Dates: during 1950-1959
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...legal issue hinges on the U.S. charge that General Aniline's parent, Interhandel, was really a front for Nazi Germany's I. G. Farben. But Swiss-based Interhandel and 1,500 of its stockholders proclaimed that they were not German-controlled; in a maze of litigation they tied up persistent U.S. attempts to sell off General Aniline stock to the public. U.S. lower courts and a Federal Court of Appeals turned down Interhandel's plea for a return of the stock. The loss in court was largely the Swiss government's own fault; its stiff banking...
...immediate problem concerns the relationship between the AFL-CIO and Hoffa's Teamsters. George Meany, president of the parent union, is expected to urge suspension of the Teamsters and the next step--complete expulsion--would be left up to the AFL-CIO convention this December. Hoffa has appealed to Meany and his executive council to drop the ouster movement, but the Ethical Practices Committee has already gone too far to back down now. The result of a clear split between the AFL-CIO and the giant Teamsters bloc would be a labor war injurious both to national business...
Will Hoffa get himself and his big (1,400,000 members) union kicked out of the A.F.L.-C.I.O.? He seems to be headed for just that despite his insistence that he wants to work his reforms within the parent organization. For in closed sessions with his constitution revision committee, Hoffa is solidifying his position with an attempt to undercut the powers of the Teamsters' four regional conference bosses, thus piling more power on the presidency...
...California's biggest tourist attraction since Hollywood. Of the visitors, 43% come from out-state, many of them drawn by the compelling lure of Disney's children's TV shows-which get paid $10 million a year for advertising Disneyland and forthcoming Disney movies. Said one parent: "Disneyland may be just another damned amusement park, but to my kids it is the Taj Mahal, Niagara Falls, Sherwood Forest and Davy Crockett all rolled into one. After years of sitting in front of a television set, the youngsters are sure it's a fairyland before they ever...
That was the end of Farben as such. But it was the beginning of an amazing recovery by the free-enterprising successors to the cartel, which has resulted in bigger sales than their prewar parent ever had. In the postwar German boom, Farben's vigorous successor companies have won back far more of their immense prewar business and prestige than the most optimistic German had hoped for. Sales of the three biggest companies last year topped $1.09 billion, just over Farben's prewar total; and they are rising at the rate of 12% a year (but are still...