Word: petroleum
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Dates: during 1960-1969
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Several of the also-rans did impressively well. The fastest sales increases were made by American Petrofina, up 114.8%, and by Iowa Beef Packers, whose 114.6% gain was due largely to increased capacity. Amerada Petroleum, in 355th place, had the highest profit margin for the sixth consecutive year-30.2% of sales-thanks largely to its low overhead. When it came to return on invested capital, Avon led with 34.3%, followed closely by Gillette's 34.1%, General Dynamics 32.2%, Smith Kline & French's 30.9% . On the average, the 500 earned better than 6% on sales and 9% on invested...
Some doors are still shut. But such formerly "tight" fields as banking, brokerage, steel and the auto industry are opening wider. Negro recruits are increasingly welcome at airlines, retail stores and food, petroleum, aerospace and electrical-equipment companies...
...starter, the new government has canceled Brazil's $200 million-a-year wheat and petroleum import subsidies, cut the national budget 30%, and is promoting a bill that will create a National Monetary Council for stabilizing finance and trade policy. It also intends to cut back commercial credit for businessmen, hold down those famous 100% wage boosts Goulart liked to pass out to unions, expand exports by offering credit insurance...
Venezuela's huge, U.S.-owned Creole Petroleum Corp. has developed a skill that few other companies in the world need to worry about. Continuously harassed by Communist sabotage, Creole has become so quick and adept at repairing its dynamited pipelines that the terrorists actually get defeatist about blowing them up. That skill, plus a line of Venezuelan government guardsmen stationed all along the pipelines, has kept Creole-which is 95% controlled by Standard Oil of New Jersey -operating as Venezuela's biggest business. It pumps 40% of the country's oil, provides 25% of the government...
...three U.S. companies. Esso Pappas, a partnership between Pappas and Jersey Standard, has started work on Greece's second oil refinery. "Within 19 months," promised Jersey Executive Vice President William R. Stott, "this bare earth will be covered by a refinery producing 50,000 barrels a day of petroleum." Esso is also building a 200,000-tons-a-year ammonia plant, Republic Steel is expected to operate an $85 million steel mill, and the Ethyl Corp. will run a petrochemical plant. Altogether, the complex will provide 2,000 new jobs...