Word: pontiacs
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This week, a decade after Houston opened its Astrodome and pronounced it the Eighth Wonder of the World, New Orleans will stage the "grand opening" of its 97,365-capacity Louisiana Superdome, which could absorb the 66,000-seat Astrodome with room to spare. Last week Pontiac, Mich., opened its 80,400-seat, $55.7 million Metropolitan Stadium, 25 miles northwest of Detroit, with an exhibition football game between the Detroit Lions and the Kansas City Chiefs. Seattle hopes to complete the dome on the 60,000-seat, $60 million King County Stadium next year "in time for the baseball season...
...home as planned last Wednesday after lunch. At 10 p.m., when he still had not shown up, she nervously called in some friends to keep her company. At 8 a.m. on Thursday, the family asked the police to look for him. They found his car, a dark green 1974 Pontiac Grand Ville hardtop, in the parking lot outside the fashionable Machus Red Fox Restaurant in Bloomfield Township, 15 miles northwest of Detroit. But there was no sign of Jimmy Hoffa, 62, the stubby, cocky, belligerent figure who was as tough as any truck driver on the road and who loved...
...announced last week that it will spend $3 billion over the next four years to develop and produce smaller versions of its Buick, Pontiac and Chevrolet models. In April it will roll out a new Cadillac tailored for the age of rising gasoline costs: it will be 1,000 Ibs. lighter, 2 ft. shorter and almost 1 ft. narrower than today's four-door, 5,100-lb. Calais De-Ville. In addition, GM is planning to reduce its five distinct body styles to two or three. The company's eight engine varieties may be cut to four...
...outlook is cloudier in Michigan. A nearly unanimous board of directors of Pontiac's Community National Bank is working hard to thwart a tender offer by Ahmad C. Sarakbi, 45, for 50.1% of the bank's shares. A wealthy Lebanese oil broker, Sarakbi is supported by a former chairman of the bank who deplores its present management policies, and a lone director who has been feuding with his colleagues. Sarakbi insists he is acting completely on his own, but Community National directors worry that he could be acting for larger non-government Middle East oil interests looking...
Flowing Surpluses. The two episodes differ quite sharply, of course. Khashoggi is a veteran absentee investor in California banks; Sarakbi has no banking experience and has declared his intention that Community National "would serve as a liaison between Pontiac and the Middle East." Yet both deals amply demonstrate the kind of wrenching problems, emotional as well as economic, that many communities will be grappling with when oil-country surpluses begin to flow heavily into the U.S. in the form of investments in property and businesses, big and small. In fact, Americans will simply be experiencing what people in other lands...