Word: swapping
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Bonn has wrapped its border barters in tight secrecy. One reason is fear of adverse public opinion. West Germans were initially revulsed by the deals, in which Ulbricht's cynicism reminded them of Adolf Eichmann's offer during World War II to swap Jews for trucks. There is also clear reluctance to upset the East Germans, who might end the arrangement if it proved embarrassing. So deep is this reluctance, in fact, that Western authorities have been cracking down hard on Westerners seeking to assist in the escapes of East Berliners. Last week three West Germans who helped...
...Bulgarian tobacco in exchange for cigarette-paper machinery, processed much of the tobacco into cigarettes that were sent back to Bulgaria; the Bulgarians shipped them on to Russia in payment for more machinery. Sometimes, the trade is not so simple. Lebanon, burdened by a glut of apples, managed to swap some to Jordan in exchange for 40 army tanks, and would like to trade more to Britain in payment for VC 10 jets. Although the British are anxious to sell their jets to Lebanon's Middle East Airlines, they are not wild about those apples. The government has called...
Klonarides and his competitors find their biggest market in the underdeveloped nations, which usually have commodities to trade but very little cash. Through bartering, Egypt has been able to swap its cotton for German locomotives, for machine tools and for a British power station. Brazil traded coffee for $4,200,000 worth of British tractors. For handling commodity sales, bartering firms take a commission of 1% up, depending partly on the state of the commodity market and partly on the length of time that it takes them to conclude the deal...
Chopped Down. The proposed merger by stock swap, which must be approved by the stockholders and will probably receive more than the normal amount of scrutiny in Washington, is the work of Harold S. Geneen, I. T. & T.'s hard-driving president since 1959. When he took over I. T. & T., Geneen boasted to a group of Wall Street analysts that the then ailing giant would become "one of the most important companies of the next decade...
...company is also winning footholds in their fields. In the past four years it has bought up two retail subsidiaries that sell hardware, paint and kitchen equipment through 978 franchised and 72 company-owned stores. Last week Household moved into merchandising on a major scale. It arranged a stock-swap deal to acquire City Products Corp., an Illinois conglomerate that controls 3,020 retail outlets through its Ben Franklin and T.G. & Y. variety stores, its Barker Bros, furniture chain and a food-chain supply house...