Word: state-run
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...made such a point of. Khrushchev went on to make a 2½-hour speech for his big reform of 1958-a program of boosting farm output (or "catching up with the U.S.." as he puts it) by taking tractors and other farm machinery from state-run "machine pools" and turning them over to the collective farms...
...boss of Italy's state-run oil monopoly (ENI), Enrico Mattei is a bitter foe of private enterprise. In 1957 he bulled through a punitive Italian oil law which put such restrictions on private oil companies that Gulf, the last U.S. firm wildcatting on the peninsula, got out (TIME, Feb. 4, 1957). Five months ago he got a concession in Iran in return for a promise to turn over 75% of oil profits, thus overturning the fifty-fifty pattern now in effect in the Middle East...
...biggest moneymaker of all is Sicily's booming young oil industry. Instead of throttling foreign oil exploration by setting up a state-run monopoly such as Italy's ENI (TIME, Sept. 2), Sicily encouraged Gulf Oil Corp. with a deal that one U.S. oilman calls "the best terms of any oil company operating anywhere in the world." Instead of the standard fifty-fifty split, Gulf gets 80% of all profits, has pumped $50 million into Sicilian oil development. The payoff: wells that will produce 1,650.000 tons of oil next year, some 15% of Italy's total...
...Prince Charlie?" wondered the Sunday Express, but the question did not seem to get much of a rise out of Britons. Sending Charles to Cheam was not quite the prescription of that young critic of royalty. Lord Altrincham, who "would have liked to have seen him enter a state-run primary school." But it was certainly more democratic than the old royal custom that prescribed for all heirs to the throne a private education under governess and tutors in the palace schoolroom...
Though Iran still claims that "the principle of sharing profits fifty-fifty between partners has been respected." it will get its extra 25% by bringing the state-run National Iranian Oil Co. (NIOC) in as an equal partner with Italy's ENI. From any profits, the Iranian government will skim a 50% royalty off the top; then the remaining 50% will be divided equally between ENI and NIOC. In addition, ENI will ante up NIOC's initial contribution to the joint company on a "loan" basis, pump another $22,250,000 into the venture over the next twelve...