Word: ponte
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...despite those troubles, U.S. Steel last week announced that it was offering about $6.4 billion in cash and notes to acquire Marathon Oil, the 17th biggest American petroleum company. The deal ranks just behind last summer's successful $7.3 billion bid by Du Pont, the chemical giant, to buy Conoco, the ninth biggest American oil firm. Critics immediately began charging that U.S. Steel should be using the money for its own development. Lionel Olmer, Under Secretary of Commerce for International Trade, said that the agreement "calls into question the seriousness of the steel industry's efforts to modernize...
...will soon begin bringing in documents. Among the largest claims to date: $50 million by the Houston firm of Brown & Root for the construction of shipyards and naval bases; $100 million by General Telephone & Electronics for the development of a telecommunications switching network; and $118 million by E.I. du Pont de Nemours for the building of a synthetic-fiber plant...
...Electrical parts manufacturer Compagnie Generale d'Electricite; chemical firms Rhone-Poulenc and Pechiney Ugine Kuhlmann; conglomerate Saint-Gobain-Pont-a-Mousson; and electronics giant Thomson-CSF. To be covered in a separate bill...
...grants that demand something in return. At the Massachusetts Institute of Technology, private help has jumped from $6 million in 1979 to $18 million this year. At M.I.T. Exxon is financing an $8 million project on combustion research. Harvard Medical School has announced a $6 million grant from Du Pont for genetic research. Carnegie-Mellon University in Pittsburgh has signed a $5 million contract with Westinghouse to fund the Robotics Institute, granting Westinghouse first patent rights on any research findings. Dartmouth College receives $75,000 a year from DePuy, a medical manufacturer, to develop prosthetic hip replacements. Columbia University...
...fact, the takeovers will probably push France into deeper trouble. The country's economy is already suffering from anemic growth, 7.7% unemployment and sagging investment. Nationalizing the banks-and 32 large industrial enterprises, including the Dassault airplane manufacturing company and the Saint-Gobain-Pont-à-Mousson fiber-glass maker-will almost certainly deepen the existing slump by making businessmen more wary of investing their money. Says J. Paul Horne, European economic analyst for the Smith Barney, Harris Upham & Co. investment firm: "The French private banking sector is all but gone. New private investment in France has been virtually frozen...