Word: consortium
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...Watt's ouster, they are trying to draw and quarter him in the courts for what they view as his efforts to turn back the environmental clock. "He's being sued right and left," crows Craig Van Note, executive vice president of the environmental group Monitor Consortium. And Patrick Parenteau, legal counsel for the National Wildlife Federation, predicts an "explosion of litigation" as Watt's plans for developing the nation's natural resources take shape...
...Westinghouse to do any work, because it is not clear they have to do anything at all under these contracts." A steam generator priced at $5 million in 1975 actually cost the Government $71 million. The report found evidence of both bribery and fraud by some contractors. A consortium of 753 private utilities agreed in 1973 to put up more than a third of the capital for Clinch River. Thanks to the cost overruns, the private sector investment will be no more than 8%, and probably less...
Sophisticated though they are, the Kuwaitis have also made some mistakes and miscalculations. In the 1970s the sheikdom tried to acquire a controlling interest in West Germany's Daimler-Benz automaker but abandoned the effort after German bankers formed a consortium to keep the power in German hands. Last year Kuwait bid $982 million for a 14.6% share of Getty Oil of Los Angeles but dropped the tender offer after executors of the estate of J. Paul Getty resisted. In spite of such setbacks, the emirate is plainly doing something right: revenues from its investments this year should reach...
Built by a French-dominated consortium of European companies, Ariane is a liquid-fuel rocket reminiscent of the U.S. Atlas/Centaur launch vehicle. In its first test, in 1979, the rocket reached orbit, but the second Ariane burned up shortly after liftoff, in 1980, because of engine failure. Thus Ariane's latest launch attempt -the next-to-last trial before the rocket is scheduled to go into regular commercial service-was regarded as something of a make-or-break proposition, like Columbia's flight last April...
...political stability will depend on other factors. The regime has survived economically so far because of the repeated lenience of the international financial community. At the time of the coup, Bolivia's foreign debt was $1.9 billion, $170 million of which came due in December. Within 10 days a consortium of banks led by Chase Manhattan agreed to postpone the payments. Last Friday, the consortium agreed in principle to reschedule another $460 million, giving Garcia Meza additional breathing space...