Word: thyssen
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...Mercedeses and Chris-Craft cruisers have largely replaced the Iron Cross and the dueling scar as status symbols. The new upper crust is personified by such tycoons as Rudolf August Oetker, who parlayed a baking powder business into a 100-company empire; Hans Giinther Sohl, who as boss of Thyssen since war's end has turned a family ironworks into West Germany's biggest steelmaker; and Munich's Rudolf Miinemann, one of the nation's biggest and boldest financiers. Yet, for all its wealth, says Sociologist Dahrendorf, the Geldaristokratie "is searching above itself in the social...
...that the whole world is the coming market, and that for Europeans to win a larger share of it they must build companies as big as the American giants. Last week the Common Market approved in principle a major reconcentration of the Ruhr's legendary but war-splintered Thyssen steel empire. The six-nation High Authority said that a "favorable decision" can be expected within a month on the petition of the August Thyssen Corp. to buy out the nearby Phoenix-Rheinrohr Corp., which was a part of the Thyssen empire before the Allied occupiers broke...
Probably Inevitable. By mating, the two German companies can offer a complementary product line: Thyssen (pronounced Tiss-en) makes mostly sheets and beams; the strength of Phoenix is in tubes and heavy plate. Merger was probably inevitable anyway: despite the postwar decartelization attempts of the Western Allies, the majority ownership of both companies still rests with the descendants of August Thyssen, who was Germany's Andrew Carnegie...
...century ago, miserly August Thyssen gained hold of high-grade ore supplies in Sweden and France and built ore-skimpy Germany into a major steel power. His son, Fritz Thyssen, was the first industrialist to support Hitler, but in 1939 denounced him and spent most of the war in a Nazi internment camp; he died in 1951. Fritz Thyssen's widow, Amelie, now 85, proved resourceful: she found loopholes in the Allied decartelization decrees and gradually welded together much of the old steel dynasty. From her Bavarian castle, Frau Thyssen today controls 52% of Phoenix stock...
Increasing Support. Only two years ago, the Common Market High Authority balked at a petition to unite these Thyssen family assets. For this, the High Authority was rebuked by the harder-headed Common Market parliament, which argued that the Thyssen-Phoenix combine would produce scarcely one-third as much as U.S. Steel Corp. With world competition sharpening and the Common Market steadily building into one big economy, cartel-inclined Europeans are finding increasing support for their ambitions for bigness. Even in France, which helped break up the German cartels, the business paper Les Echos wrote: "For German heavy industry, cartelization...