Word: branco
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Patronage & Bribes. Over the years, Adhemar accumulated a sizable fortune, and it was just as well that he did. For last week President Humberto Castello Branco, with the weight of the military behind him, suddenly fired Adhemar and canceled his political rights for ten years. The reason: Adhemar had turned against the revolution. The issue: who would succeed him at the end of his term in January...
When he installed Humberto Castello Branco as Brazil's President after the 1964 revolution, War Minister Artur da Costa e Silva, 63, the bluff, hearty head of Brazil's military, said loudly and clearly that he had no desire to be President himself. That was two years ago, however, and General Costa e Silva has since decided that being President is not such a bad idea after all. In fact, he has all but tied up the job as successor to Castello Branco...
Sudden Surprise. Almost since the revolution, Costa e Silva has been content to act as the buffer between two bitterly opposed government factions-the so-called "soft-liners," including Castello Branco, who want to operate within a constitutional framework, and the hard liners who demand more aggressive "revolutionary government." Finally, in a showdown last October, the hard liners forced Castello Branco to abolish Brazil's 13 political parties, pave the way for a government party called ARENA, and order indirect presidential elections this fall by Congress rather than by direct popular elections. Since ARENA controls 284 of Congress...
With the elan of a practiced politician, the War Minister then went to work, widening his following within the military, browbeating reluctant politicians and trying to soften up Castello Branco. ARENA is now almost fully behind him, and a recent survey of the military gave him the support of 80% of the country's army officers. Castello Branco finally had no choice but to pronounce Costa e Silva an "acceptable" candidate. All that remains now is his nomination at ARENA'S May 26 convention, his resignation as War Minister by July 3 pn,d fheformal election itself...
Wall Street's tremors reverberated last week through Rome's Via Parigi, Rio's Avenida Rio Branco and Hong Kong's Queen's Road Central. With tens of thousands of non-American investors holding stakes in the U.S. stock market, foreign trading on the New York Stock Exchange rose from $5.8 billion in 1961 to $7.8 billion last year, when it accounted for more than 5% of all Big Board transactions. One reason for the market's weakness is that the foreigners have been selling. Last year they sold $409 million more than they...