Word: contractor
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...independent fiefdom by Lieut. General Ibnu Sutowo. The initial charge can run to as much as $7,000,000 in so-called signature fees-"just for a hunting license," as one oilman puts it. The companies take all the risks. If oil is found, Pertamina allows a foreign contractor to keep the first 40% to pay exploration and production expenses; the remaining oil is split, with the government monopoly taking at least 65% of it. Pertamina pays all local taxes and supplies "environmental assistance," meaning help in slicing through red tape...
...Thank you, thank you, thank you for "America the Inefficient" [March 23]. I am rushing a complimentary copy to my contractor, who managed to install five large glass sliding doors to slide the wrong way. We have one of those Monday cars...
When Senator Proxime a few months ago listed General Motors as the 10th largest defense contractor in this country, I had supposed that that involved only the sale of vehicles to the Department of Defense...
North American Rockwell was the prime contractor for the Apollo command and service modules and thus a prime loser when the space program was curtailed. Then last December, in the competition for the contract to build the F-15 Air Force fighter, the company lost out to McDonnell Douglas. North American Rockwell started firing, and plans to reduce its work force from 61,000 in December...
Finding a Buyer. Acquisitive LTV has expanded since 1957 from an obscure electrical contractor into a $3.75 billion-a-year corporation. Its takeover of Jones & Laughlin in 1968 was the largest conglomerate merger in history. After paying a very rich $85 a share -or a total $425 million for control of the company-Ling has seen his investment tumble by 59%. That Ling would now choose to get out of growth businesses and stay with a troubled company in a stagnant industry seems surprising. But LTV stands to collect some $17.5 million in dividends from J. & L. for last year...