Word: alcan
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...homecoming of sorts; he received degrees from both Harvard Law School and Harvard Business School. His career in various human resources posts has taken him from a 19-year stint with the Inland Steel Company--where he was responsible for 24,000 employees--to the $6 billion corporation Alcan Aluminum, and now to Harvard...
Canadian firms have long done business in the U.S. The Bank of Montreal helped start the Chicago Clearing House in the 19th century, and companies like Alcan Aluminium, Seagram and Massey-Ferguson have been selling south of their border for decades. But the big push started in the 1970s. Over the past decade, Canadian entrepreneurs have bought U.S. newspapers, drugstores, cable television franchises, office towers and oil-drilling leases. Just last month Hiram Walker-Consumers Home Ltd. of Toronto paid more than $600 million for about 60% of Denver Wildcatter Marvin Davis' oil empire, including wells in Wyoming, Oklahoma...
...Guyana's Premier between 1957 and 1964. Particularly helpful was a $125 million credit line approved by the International Monetary Fund last July. Burnham has also sought favor with African and Communist bloc countries by nationalizing 80% of the Guyanese economy, including bauxite mines once owned by Alcan and Reynolds Metals. Although Guyana still has close relations with Cuba, Burnham promptly dispatched his fraternal greetings to Ronald Reagan after the U.S. election. Says Cheddi Jagan's American-born wife Janet, "Burnham has cards all over the place. He is totally amoral politically...
Since 1973 the price of aluminum has jumped from 25? per Ib. to 53?. The gap between supply and demand, some industry leaders assert, will drive the price considerably higher, at least to 60? by the early 1980s. Earnings of the big four, Alcoa, Alcan, Reynolds and Kaiser, which control nearly three-quarters of the U.S. market, have climbed sharply. With considerable understatement, W.H. Krome George, chief executive of Alcoa, says, "For once in our life we have been fairly lucky. Things are rolling along pretty good...
...stance. Until 1975 the biggest producers acted as if it was more important to expand capacity than to make money. Even though the Government stood ready to buy aluminum for its strategic stockpile, an excess supply overhung the market, depressing prices. As Duncan Campbell, vice president of Montreal-based Alcan, which sells more than a quarter of its production in the U.S., puts it, "We went through our garden of Gethsemane in most of the 1970s basically because of oversupply. We were gouging each other's eyes out." A costly lesson was learned...