CORPORATIONS: Trying to Hammer a Deal

SIX times in the past six months, a grandfatherly, supremely confident executive has swooped into Moscow aboard his private Gulfstream jet for talks with the highest Soviet trade officials. This week Armand Hammer, the 74-year-old chairman of Los Angeles' Occidental Petroleum, is scheduled to fly there again, with bright hopes of finally signing a major East-West trade deal. It would be an arrangement for Occidental to ship up to 1,000,000 tons of fertilizer per year to the Soviet Union in exchange for urea and ammonia that the company would sell in the...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!