Word: though
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Dates: during 1970-1979
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...from the gap between the $18-per-bbl. price that Saudi Arabia had been charging, vs. the official cartel ceiling of $23.50. In unregulated markets outside the U.S., Aramco's proud parents have been able to sell their gasoline, heating oil and other products for high prices even though these fuels were made from the lowest-cost cartel crude. Largely as a result, third-quarter profits of Exxon, Mobil, Texaco and Socal jumped by anywhere from 73% to 211%. The revenue surge enraged the Saudis; Oil Minister Ahmed Zaki Yamani argues that Aramco's parents have been grossly...
...France's traditionally subtle perfumes are under siege. Though the gentle Chanel No. 5 remains a bestseller, this fall's freshet of new scents was triggered by the success of Opium, which is sold under the Yves Saint Laurent label. It was so popular in Europe after its launching there in 1977 that its appearance in the U.S. had to be delayed a year for lack of supply. As it happens, Opium is marketed by a subsidiary of the Squibb Corp., the U.S. pharmaceutical firm, which pays the Yves Saint Laurent fashion house a royalty in return...
...morale is high. Even though time clocks and foremen's whistles have been thrown out, Company Chief Broadwater believes workers are putting in longer hours. "We're not martyrs, we just want to see this place go," says Union Leader Ciarniello, who attends board meetings. "I'd make a deal with the devil to keep this place open...
...hype was pure Madison Avenue, though the locale was Paris. First there was a gushing news release. "Since ancient times," it declared, "perhaps since the Garden of Eden, woman has communed with perfume. In creating Nahema today, Guerlain adds a prestigious page to this eternal dialogue." Then came an "intime" press dinner for 40 or so at Maxim's, followed on another evening by a glittering soiree near the Place de la Concorde, where 650 guests were plied with champagne as the new scent being introduced by the doyenne of French perfume houses filled...
Nonetheless, Egypt is now heavily dependent on Western and Japanese aid and investment. Cairo officials fear that the Arab irritation with Egypt may deter Western companies from seeking out the joint-venture projects with Egyptian partners that Sadat is encouraging. Though the oil companies have been involved in exploration for some years, the list of other major U.S. investors that have moved into Egypt or are seriously considering doing so is still fairly short. Coca-Cola, 7-Up and Xerox have set up operations there; Ford, General Motors and Union Carbide have investment projects in the planning stage. Yet Egypt...