Word: arcos
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...Advisory Committee on Shareholder Responsibility (ACSR) voted last night to support a resolution asking the Atlantic Richfield Company (ARCO) not to expand its investments in Chile until the Pinochet regime there restores complete civil and political rights...
Committee members decided to support the proposal because they thought ARCO's invesments in Chile had a significant effect in stabilizing Pinochet's military government, Detley F. Vagts '49, professor of law and chairman of the committee, said yesterday...
...Arco's smart managers seem to be making quite a gamble. Ovshinsky is a self-taught physicist without a college degree. ECD, which he founded in 1960, has never had a commercial success, has had only one profitable year (1964) and last year lost $3.4 million (on revenues of $1.6 million, largely from Arco funding for the solar project). The company's over-the-counter stock price has fluctuated sharply. One high came in 1968, after Ovshinsky said in a highly publicized news conference that his research would "transform" the electronics industry...
Though some of the deals are long dormant and none has yet paid off, Arco seems enthusiastic. Claims Ovshinsky: "Since May, all the essential steps for ovonic solar cells have been production-proven, and they have shown themselves to be far superior to anything else...
...Arco sees two big potential markets for solar power if ECD's new cells substantially cut the cost. The two: rural areas in the Third World that lack electricity, and big power utilities that need cheap fuel. Says Chambers: "If it all works, we will have an industry in place by the end of this decade." But, he admits, "there are still some cards we haven't seen...