Word: steels
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Three men, six interlocking hands, one mother of a steel company. That's the image Jos? Ram?n Alvarez Rendueles, Joseph Kinsch and Francis Mer presented in Brussels last week when they announced that the three companies they manage-Spain's Aceralia, Luxembourg's Arbed and France's Usinor-were forging one $30 billion-a-year monster that will crank out 46 million tons of steel in 2002. The new company, which has yet to be named, will be the world's largest, dwarfing the previous No. 1, Japan's Nippon Steel, which turned out 28 million tons last year...
...Steel share prices across Europe immediately jumped on hopes that other mergers-and higher steel prices-would follow. The reasoning goes like this: the top five automakers produce roughly 60% of the world's cars, and the top five aluminum companies make 40% of the world's aluminum, but the top five steelmakers accounted for just 18% of the 828 million tons of steel the world produced last year-and that means lots of room for consolidation...
...This slum doesn't have a name. The 5,000 residents call it Ban Chua Gan, which translates roughly as Do It Yourself Happy Homes. The expanse of jerry-rigged wood-frame huts with corrugated steel roofs sprawls in a murky bog in Bangkok's Sukhumvit district, in the shadow of 40-story office buildings and glass-plated corporate towers. The inhabitants migrated here about a decade ago from villages all around Thailand. Jacky came from Nakon Nayok, a province near Bangkok's Don Muang airport, seeking financial redemption in the Asian economic miracle. And for a while...
This has really created a problem. We can't achieve any progress in economic development. To give you an example, in north Africa, we have a steel factory in Libya, another in Egypt, another one in Algeria, but they are all losing money. Why not have one that will be successful? Colonel Ghaddafi started thinking, "Why not try again to achieve African unity?" The reaction of the African heads of state was quite amazing...
...other pastimes. NASCAR officials maintain that safety will always be a top priority. But whether you tune in for the competition or the crashes - look deep in your heart before answering - danger is part and parcel of the thrill. When a sport's competitors strap themselves into two-ton steel thoroughbreds and take off around the crowded oval at nearly 200 miles an hour, death will always hover above the infield...