Word: powers
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Dates: during 1960-1969
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...officers of many major corporations, the man to see about a particularly complicated loan has been Alden Winship Clausen, vice chairman of the San Francisco-based Bank of America. Outside the corridors of corporate power, however, Clausen is almost unknown. He belongs to few clubs and, unlike many bankers, has never headed a Chamber of Commerce. From now on, he will operate more in the public eye. Last week Bank of America directors chose "Tom" Clausen, 46, to become president and chief executive of the world's largest commercial bank...
...Leaders of four of the nations that share the Indo-Chinese peninsula-Thailand, Cambodia, Laos and South Viet Nam-have buried deep political antagonisms and have been swept up in what they call the spirit of the Mekong. They envision a vast project to harness the Mekong River for power, irrigation and flood control; that could enable the region to grow enough food to feed much of Asia and attract foreign investment to the participating countries. The 2,600-mile Mekong, the world's eleventh longest river and one of the least used, rises in the Himalayan plateau...
...third among themselves and the rest in loans and grants from 26 other countries, to finance hydroelectric projects, bridges and engineering studies. The U.S. has spent about $36 million. Thailand has completed two dams, Laos is working on the big Nam Ngum Dam, and Cambodia has begun a power and irrigation project near Pnompenh. Now the most ambitious project of all is ready for financing: the $1 billion Pa Mong Dam between Thailand and Laos. The dam, the first to span the Mekong itself, will generate more electricity than Egypt's Aswan Dam. Despite the solid advances, however...
What made management sense to the U.N. did not conform to Asian values. Project members favored the imaginative and inspirational Schaaf. As for being palatable to the Communists, Schaaf says: "We want to produce irrigation and power for the people of the Mekong basin. We don't give a damn what their politics are." Representatives of the four nations refused to accept Umbricht, threatened to sever ties with the U.N. and hire their own man, an Asian from one of the Mekong countries. They finally approved William Van Der Oord, a U.N. official from The Netherlands-but only...
...folk tales, the power that changes a frog to a prince is called magic. In life, it is known as nostalgia. Wrapped in it, a newspaper becomes an illuminated manuscript, a vulgar city is transformed into El Dorado. Ben Hecht, once one of the highest-paid scenarists in Hollywood, had a nostalgia factory for a brain; what went in as the apprenticeship of a yellow journalist emerged as gilded celebrations of innocence...