Word: simca
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Dates: during 1960-1969
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Still Welcomed. Among the heaviest investors abroad are the auto and chemical companies, which have increased 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...
...thing: the U.S. had been behind the abortive coup in hopes of discountenancing le grand Charles. This pied-noir illogic reached all the way to Paris' Quai d'Orsay, where foreign-office officials helped spread the rumor. Last week the anti-American feeling coalesced into violence. A Simca-load of colons cruised past the U.S. embassy in Libreville, peppered the building with shotgun fire. An hour later a bomb exploded in the garden...
Under its aggressive young president, Lynn Townsend, 44, resurgent Chrysler Corp. is not only trying to catch up with Ford and General Motors in the U.S. but also to match their overseas holdings. Chrysler has 16 plants overseas, and earlier this year acquired control of Simca, France's fourth largest automaker. Last week Townsend outmaneuvered both Ford and General Motors to become the first U.S. automaker to win a foothold in Spain...
...foreign branches of Poland's Pekao organization let outsiders order for Poland delivery to their relatives and friends. The insiders get scarce luxuries that range from Elizabeth Arden creams ($1 a jar) and Gillette Blue Blades ($5 for 100) to baby pigs ($16 for two) and Simca autos ($1,950). Pekao's take from this sanctioned black market traffic is estimated to be $40 million a year...
...million in projects, including jetports in Jidda and Medina, a handful of palaces, and miles of superhighways. His greatest thrill was building a new mosque over Mohammed's tomb at Medina. Says Ben Laden: "To me there are only two things in life-work and Islam." ∙Simca, France's third largest automaker (after Renault and Citroën), this week gets a new president: outspoken Georges Héreil, 53. He replaces fiery Henri Pigozzi, who founded Simca in 1934 and ruled it with an iron hand until Chrysler bought control of it this year. The former...