Word: adela
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This week two subsidiaries of Brazilian Traction Light & Power Co. will sign a $40 million loan agreement with the U.S. Agency for International Development as the first step in a fiveyear, $228 million program to double their service. The Inter-American Development Bank and ADELA (Atlantic Community Development Group for Latin America), a private, multinational investment group that has invested $12.7 million in Latin America, have just joined with Brazilian Millionaire...
...unity than would appear from its many problems. Working toward that goal are the Alliance for Progress, the nine-nation Latin American Free Trade Association, and the five-nation Central American Common Market, as well as such private investment agencies as the Atlantic Community Development Group for Latin America (ADELA), which Javits himself initiated two years ago. He compares Latin America today to the Europe of ten years ago. Then, despite an impressive degree of economic cooperation, a full-fledged, six-nation Common Market seemed a Utopian vision; three years later it was a reality...
...Atlantic Community Development Group for Latin America, dubbed ADELA, intends to invest primarily in medium-sized consumer-goods industries. It will also buy shares in other businesses that have high potential, some risk, and a tough time securing capital from local sources. ADELA plans to raise $40 million from 80 or more companies in the rich Northern Hemisphere; with this it hopes to attract another $160 million from such sources as the World Bank and the Latin American moneymen, who are normally wary of investing in their own homelands. So far, a dozen firms have pledged...
...ADELA still conspicuously lacks capital support from affluent German, French and Canadian companies, and still has to prove that it can turn a private profit in chaotic Latin America. But the man who originated the idea for the organization and won it early support, New York Republican Senator Jacob Javits, feels confident enough to let the businessmen take over while he steps down to an advisory role...
...caddy and another $15 a week as a copy boy at the Washington Post, which McLean happened to own. By the age of 20, Povich was the Post's sports editor. The Post was poor then and could not afford the ghost celebrities-Babe Ruth, John McGraw, Adela Rogers St. Johns-that its competition featured. So Povich composed an ad: "Colonel Charles Lindbergh, Vice President Charles Dawes, Aimee Semple McPherson and Charles Chaplin will not cover the World Series for the Post! This baseball classic will be covered by our baseball writers...