Word: pours
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...seems to be to keep them in business at almost any price. Labor unions that became restive during the belt-tightening period are again pressing for hefty wage increases, threatening the competitiveness of Italian exports. Still the government, having restored Italy's international credit, now feels able to pour at least $26 billion in the next four years into the economy to revive investment that stagnated during the credit crunch. Last week the Bank of Italy cut the discount rate to private banks to 7%, from a high of 9% last December. Despite the ever-present threat...
...politically straightforward: France, he insisted, must develop a home-grown computer industry capable of competing with the American giants, particularly IBM. For nearly nine years the French government followed his Plan Calcul. Last week France abandoned its pursuit of that chimera and approved the merger of the Compagnie Internationale pour I'lnformatique, a 24% government-controlled computer company, with Honeywell Bull, the Paris-based subsidiary of the U.S. computer maker Honeywell...
Infuriated, De Gaulle ordered the creation of a competitor, and three small computer firms were eventually welded into the Compagnie Internationale pour I'lnformatique, known as CII. It never really gave Americans much competition. GE increased its holding in Machines Bull to 66% and then sold its interest to Honeywell in 1970. Under the leadership of a former IBM engineer, Jean-Pierre Brulé. Honeywell Bull earned a $25.3 million profit in 1974 on sales of $534 million and enjoyed a solid 18%-to-20% share of the French market. By contrast, even with massive infusions of government capital...
France managed to save some face and preserve an image of national ownership. It will own 17% of Compagnie Internationale pour I'lnformatique "CII-Honeywell Bull." The deal also commits Honeywell to sell 19% of its interest in Honeywell Bull to the French government and CGE for "about" $60 million. Eventually, 53% of Honeywell Bull stock will be in French hands, but Honeywell, with its resources and familiarity with the U.S. market, will remain the dominant partner. Beyond that, the French government will endow the company with slightly less than $300 million -mainly in the form of research contracts...
...illegals pour in from practically everywhere. Mexicans, many of them migratory farm workers, are the most prominent group. Other large contingents include Canadians, West Indians, Latin Americans, Greeks and overseas Chinese. Most gravitate to the large cities, where jobs are more plentiful and they can easily escape detection by fading into the crowd. The INS believes that there are 1.5 million unlawful aliens in and around New York City and half a million each in the Chicago and San Antonio areas. Los Angeles Deputy Mayor Manuel Aragon says that one person out of eight in his city-about...