Word: consortium
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Late last year, having lost all patience with capricious Industrialist Howard Hughes, a consortium of eleven U.S. banks and insurance companies did its best to put him out of the airline business. In return for a $165 million loan that Trans World Airlines desperately needed to finance its new jet fleet, the consortium obliged Hughes to place his 78% of TWA's stock in a trusteeship. Last week, clearly unfazed by his setback at TWA, wily Howard Hughes, 55, made a dramatic bid for re-entry into commercial aviation. His newest ploy: a request to the Civil Aeronautics Board...
...successful invasion of Britain, however, would also further Mattei's tireless fight to revenge himself on the big oil companies for freezing him out of the international consortium set up seven years ago to refine and market Iranian oil. British oil companies currently sell about 25% of the gasoline used in Italy; Mattei slyly implies that he would be satisfied with the same percentage of the British market, 83% of which has been held up to now by British Esso and Shell...
...five years. By contrast, the proposed British contribution to a tunnel would be $73 million-and a tunnel would not wear out as do planes and ferries. And where a Channel bridge, because of its huge cost, would have to be subsidized by the British and French governments, a consortium of six international banks* is prepared to raise the entire cost of a Channel tunnel from private investors throughout Europe...
...first significant discovery in more than 40 years of exploration for oil and gas in New Zealand, the Kapuni strike was made by a consortium of Royal Dutch/Shell, British Petroleum and New Zealand's Todd Oil Services Ltd. Though unofficial estimates run higher, the consortium itself conservatively places the productive capacity of the Kapuni field at 100 million cu. ft. a day-or enough to generate 40 times as much electricity as is used by New Zealand's largest city, Auckland...
...Consortium in Connecticut...