Word: fleetness
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Dates: during 1970-1979
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...fleet of 500 jet transports would disgorge thousands of sympathetic Americans bearing crates of knives, steel axes, rifles, mirrors and other wonders...
Tripling the Take. The mercurial Mintoff was just getting started. He sacked the British police chief. He pronounced invalid the ten-year agreement allowing Britain to keep military forces on the island. He asked Washington to suspend further Sixth Fleet visits "pending revision of general agreements." For good measure, Mintoff also declared NATO's Mediterranean commander, Italian Admiral Gino Birindelli, persona non grata. Birindelli, an outspoken right-winger who kept his NATO headquarters on Malta, had accused Mintoff of planning to let the Russians use the island as a naval base...
...Mintoff is not likely to go so far as to kick the British out, since 3,000 Maltese employed at the base would immediately lose their jobs. That is a blow the poor and crowded (pop. 320,000) country could hardly sustain. Last week, when Mintoff canceled the Sixth Fleet visit, there was sorrow among the island's shopkeepers and the girls of "The Gut," the red-light district. According to one estimate, Malta lost $360,000 by keeping the sailors away...
Banker's Delight. Low overhead and economies of scale have made Pao's fleet attractive to investors who normally steer clear of the speculative shipping market. As a result, Pao has been able to tap, almost at will, the rich and growing capital market in Hong Kong. The Hongkong and Shanghai Banking Corp. has been a steady source of his financing. With its backing, Pao charts the course for his 63-ship fleet through a baffling array of tax-haven companies in Liberia and the Bahamas. The empire is managed through Pao's personal company, World-Wide...
...like his tycoon contemporaries, well into middle age. What distinguishes him from the other super sealords is the incredible pace at which he has expanded his fleet. With a personal fortune estimated by his business associates at anywhere from $300 million to $800 million, Pao does not ever have to go near a shipyard again. Yet he shows no sign of relaxing. After announcing his latest orders last week in New York, Pao hopped a plane for Tokyo to look for shipyards interested in another maxi-order...