Word: shell
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Dates: during 1960-1960
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...Shell Shock. In Waverly Hall, Ga., Joseph D. Miller's small foreign car veered off the road and turned turtle after running over a tortoise...
Guevara has concluded a twelve-year trade treaty with Russia calling for $100 million in Soviet aid, has sold a million long tons of sugar to Russia, 130,000 to Communist China, 60,000 tons to East Germany and 150,000 tons to Poland. He ordered Esso, Texaco and Shell to start processing 900,000 tons of Soviet petroleum arriving regularly aboard Russian tankers. The oil companies, whom Cuba owes $60 million for previous shipments from Venezuela, refused, and Castro threatened last week to nationalize them...
...MERCURY will be reduced to Ford size, sell at Ford prices. New Mercury will be built on a Ford body shell but have its own styling. Ford follows lead of Dodge Dart, which is built on a Plymouth chassis, is now Chrysler's best-selling...
After three months of complex dealing, a giant new corporation shouldered its way last week into the top ranks of low-priced specialty chain stores. The new company, the McCrory Corp., was formed from three chains-the B.T.L. holding company (a corporate shell of the Butler Brothers variety chain), United Stores Corp., and the McCrory-McLellan Stores Corp. With 461 stores, the new company will rank fourth among U.S. low-priced chains (first three: F. W. Woolworth, W. T. Grant, S. S. Kresge). The man who masterminded the merger is Meshulam Riklis, 36, who in only nine years has risen...
Empire Building. Last February Riklis had a chance to sell Butler Brothers to City Products Corp. for $50 million-of which $34 million was in cash. With the cash he set up B.T.L. as a corporate shell, and went shopping. For $7,000,000 in cash he bought 38% working control of United Stores-which in turn controls the McCrory-McLellan chain of stores-from the H. L. Green chain, which was having its troubles. (Green had merged with Maurice Olen's chain of stores in the fall of 1958, but Olen has been charged with overstating his assets...