Word: turkeys
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Dates: during 1970-1979
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...Among them: the Robert E. Ginna reactor near Rochester, N.Y., Palisades near Kalamazoo, Mich., Maine Yankee at Wiscasset, Me., Indian Point No. 2 at Buchanan, N.Y., Beach Point No. 2 at Two Creeks, Wis., Turkey Point No. 3 on Florida's Biscayne Bay and Surry No. 2 in Gravel Neck...
...civilian enterprises that included banking, construction and transportation, until a government crackdown earlier this year forced them out of business (TIME, April 3). The military in Indonesia owns a domestic airline, Mandala, bus services and banks. For sheer scope, drive and staying power, however, the business offensive of Turkey's army is in a class by itself. Turkish military chiefs openly and aggressively run what amounts to the country's biggest and most pervasive conglomerate...
...instrument of this entrepreneurial clout is the Armed Forces Mutual Assistance Fund (known as OYAK in Turkish), which was established in 1960 when a military junta temporarily seized control of Turkey. Under OYAK rules, regular officers (commissioned and noncommissioned) in the air force, navy and ground forces, who number about 80,000 in all, are required to pay 10% of their wages into the fund for eventual reimbursement. So far, OYAK has collected more than $100 million...
...they put into the fund, in addition to 5% interest, plus another 2% per year, which is supposed to represent their share of the profits (reserve officers, drafted for 18 months, are forced to pay out 5% of their wages but get nothing back). The regular officers complain that Turkey's roaring inflation is chewing into their involuntary savings. They also complain that the amount of money they get back is inadequate because it does not reflect the growing value of the fund's assets, which are now worth an estimated $300 million. Military officials of the fund...
...army ordered 100 Renaults for its brigadier generals, thus giving the cars the cachet of being the military's official vehicle. Fiat claims that contrary to a law that limits imports of auto components, all the parts for the Renaults were shipped in from France and assembled in Turkey. Thus Fiat's advantage was blunted...