Word: toehold
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Natural gas has expanded its toehold in Europe's fuel market from 2% to 3½% in the last two years; most experts predict that it will grab at least 10% by 1975, chiefly at the expense of coal's present 47% . Gas's share could grow twice that fast-to 20%-if it is priced low enough. Up to now gas prices have been kept close to those of rival fuels, partly because coal and oil companies own major interests in many gas-distribution combines and partly because so many governments are committed to subsidizing inefficient...
...bank handles one-third of Sweden's currency exchange and finances one-half of its exports. Thrusting aggressively overseas, it has bought an interest in a Moroccan bank, recently acquired control of a bank in Geneva and joined the Bahamas-based World Banking Corp. to gain a toehold in Latin America. It backed construction of a $30 million paper plant in Portugal, and this year became the first Swedish bank since World War II to underwrite a foreign bond issue, for a Norwegian power project. All this activity has helped Skandinaviska in the past ten years to double...
...Congolese army's finest hour since he came to power. On the hilly shore of Lake Kivu, a truck-borne column of rebels, well armed and reportedly loaded with dope, crashed through the defenses of the European resort city of Bukavu, the government's last major toehold in the eastern Congo. Promptly the rebels set up headquarters in the Hotel Royal Residence, took over the post office, and began rampaging through the center of town. Always before in such circumstances, the government defenders had fled in panic and confusion. This time, bolstered by 150 of Tshombe...
...Jackie's new home; and the whole arrangement couldn't be handier for the family, since Peter and Pat Kennedy Lawford live on Fifth at 80th Street, Princess Radziwill (Jackie's sister, Lee) at 78th, Steve and Jean Kennedy Smith at 76th. Some Republicans have a toehold farther down, where the Nixons, Nelson Rockefellers, and Nelson's ex-wife Mary live in the same building at 62nd Street, but the Massachusetts delegation comes back strong with Papa Joe and Rose at 24 Central Park South...
Such considerations aside, Detroit is skeptical about Studebaker's ability to maintain a toehold in the U.S. through its Ontario subsidiary, which is headed by Gordon E. Grundy, president of Studebaker of Canada. Studebaker talks about making 30,000 to 40,000 units annually in Hamilton, but its Canadian market is only about 8,000 cars (the Hamilton plant is now turning out only 48 cars a day), and cars that did not sell well in the U.S. are not likely to improve their sales appeal by crossing the border. Studebaker will continue to be the American sales agent...