Word: petroleum
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Dates: during 1960-1969
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...their foreign stakes fourfold since 1950. Chrysler recently bought a majority interest in Simca of France and 30% of Britain's Rootes Motors. In West Germany, Ford and General Motors command 37% of the auto market. Other U.S. industries with rapidly expanding foreign holdings: office equipment, farm machinery, petroleum, aluminum, razor blades. For most, the overseas investment pays off handsomely. Last year, earnings on corporate investment abroad grew by 8% to $4.6 billion more than all the U.S. companies sent abroad...
Juan's Challenge. Among world commodities, coffee ranks second only to petroleum in export value, and in Brazil it is the No. 1 cash crop. Part of Brazil's crisis, of course, may be only temporary: drought and forest fires caused considerable scare-buying and stockpiling abroad, followed by a sharp drop in demand. But by charging as high as $62.37 a bag (132 lbs.), Brazil is asking more than the world market will bear. Aggressive African and Central American producers are busy underselling it, and Colombia has benefited from a successful U.S. ad campaign that features...
Skipping the Summit. To meet that deadline, other Rumanians were dickering with potential economic allies, both East and West. Doubtless to Khrushchev's chagrin, Bucharest announced the conclusion of an accord with Red China that would swap Rumanian know-how in the field of petroleum engineering for Chinese expertise in agriculture, chemistry, and food processing. At the same time, Rumania was sounding out two U.S. firms -Boeing and Douglas- about the possibility of purchasing short-haul jet transports...
...took a betrayal to finish Kocero. Early this month he seized a night watchman at a petroleum company camp near the town of Sürt and demanded his help in heisting the camp's monthly payroll. The guard told Kocero that the payroll was not due until the following night, and swore it on the Koran. When Kocero returned with his men for the robbery the next night, the local gendarmes were waiting for them. During the struggle that followed, Kocero was caught by a shotgun's blast, but somehow he managed to stagger off badly wounded...
...University of Oklahoma graduate who studied geology and petroleum engineering, Mecom keeps twelve geologists and three geophysicists at work in his search, makes all the final decisions himself. He maintains a fleet of 27 airplanes and a private navy that includes a converted LST, three oceangoing tugs and a 5,000-ton freighter named Little John. Mecom lives with his wife and two daughters (he also has a married son) in a Frenchlike chateau in Houston, owns three cattle ranches and a private zoo of lions, zebras, gazelles and camels. A man who hardly hesitates before he plows $120 million...