Word: swapping
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...Manufacturing Co., a separate firm started by his father in 1925 that last year was a $328 million maker of meters and power tools. The next was with Collins Radio Co., the Texas-based communications-equipment manufacturer that did $350 million in business last year. Now, in a complicated swap of stock worth about $100 million to Admiral shareholders, Rockwell-an in tensely hardworking, much-traveled man whose friends call him "Al"-is picking up a corporation with sales of $469 million...
...Peterborough, a few passengers change for Adelaide. There the yard-masters have the maddening job of sorting out rolling stock for three different gauge tracks. In Gladstone, east-and westbound trains stop side by side to swap crews. "Be careful you get back on the right one," warns the chief conductor, Joe Ford, as he spots a passenger alighting dangerously between the two identical silver liners. By nightfall the train is heading into the "back o' beyond," where tiny settlements along the track still depend on a fortnightly supply train called the "tea and sugar...
...tired U.S. position that the dollar's weakness is Europe's problem, not America's. At midweek the Federal Reserve agreed with foreign central bankers to increase by 50% (to $18 billion) the amount of foreign currency that the U.S. can borrow under a longstanding "swap" arrangement for use in buying up surplus dollars abroad. Finally, West German financial officials reported that there had been some limited official dollar buying-perhaps $100 million of it-by the U.S. and European governments. Result: the dollar rose in foreign money markets for three straight days before leveling...
...President Roy Ash to step down. Gray moved to the presidency of Connecticut's United Aircraft Corp., world's largest maker of jet engines (Pratt & Whitney). Today he is launching a major diversification for the $2 billion-a-year company. Last week United made a deal to swap $750 million of its stock for the Signal Companies, headquartered in Beverly Hills. Signal had $1.5 billion in sales last year from drilling oil and gas, manufacturing Garrett gas turbines and aerospace gear, and making Mack trucks. If shareholders and trustbusters approve, the deal will make United the nation...
...Swap technology on transportation. Some obvious topics: Soviet experience in cold-weather railroad operation and new underground mass transit systems; U.S. expertise in highway engineering and cargo containerization...