Word: brazile
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...Michael Lindell, director of global-stock strategy for GT Asset Management, is bullish on the whole region. He expects a continued recovery from the 1994 peso crisis and believes the region is just starting a two- or three-year up-cycle, which will be fueled by corporate cost cutting. Brazil's Petrobras, an oil company, should be one beneficiary. He also likes paper-goods manufacturer Kimberly-Clark de Mexico and land developer IRSA in Argentina...
When it was founded 44 years ago, Petrobras, Brazil's state-controlled oil company, was a vital symbol of national pride. "The oil is ours" was an oft-repeated slogan. Politicians embraced Petrobras as an indispensable, state-owned bastion against foreign ownership and domination. But now foreigners and locals alike can profit from Petrobras' dominance in one of the emerging world's most dynamic markets...
Petrobras, the world's 17th largest oil company, produces natural gas and petrochemicals as well as fertilizers. It earned $639 million last year. It dominates the market in Brazil, supplying 52% of domestic petroleum requirements. For years, as a state-owned monopoly, it was inefficiently run. But in 1995, a constitutional change liberalized the exploration, production and development of oil. The government was subsequently allowed to sell off more than 30% of Petrobras' common shares. Result: since 1995 the price of Petrobras stock has more than trebled, powered by higher operating cash flows...
...those gallant St. Georges on the Finance committee pried up the IRS rock and shone their dazzling light on the oily squirmings thus revealed. Knowledge is power; so armed, we may yet turn the tide. If we fail, we could cross that 21st century bridge into a land like Brazil (1985), Terry Gilliam's vastly incredible, exquisitely surreal romp through a near future in which bureaucracy is lord and master. Where if you don't have the proper stamp on your 27 B stroke six, soon enough Central Services is tearing up your ducts, the Central Collective Storehouse computer...
...Number of vacation days workers get in Austria and Brazil...