Word: catalonians
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...manages to get so roiled up is something of a mystery, for his own life remains as methodical as an engineer's blueprint. He wakes at 5, meditates for a while, and then, in measured steps, proceeds to his white studio, designed by U.S. Architect (and fellow Catalonian) José Luis Sert. There, surrounded by favorite shapes and objects-a rotting rudder, a rusting anchor, a decaying sheet of metal, bits of pottery, and some toy turtles-he contemplates for about an hour. "By this time," says he, "I am filled with fury for my work...
...Rate Counterfeiting. Last week Juan March was deep in refighting an old battle, and perhaps ready to give way a little. In delicate financial parleys in Paris, March and the March-manipulated Catalonian power combine-which supplies electricity to Spain's most industrialized region-were negotiating at long last to settle their 13-year battle with Belgium's giant Sofina power syndicate...
...fight, which began in 1948, is a classic example of the way March has built his financial empire. The holding company of the Catalonian utilities had been The Barcelona Traction, Light & Power Co., Ltd., a Canadian corporation that was in turn controlled by Sofina. Eager to take over the utilities, March persuaded Franco to ban the export of their profits to Barcelona Traction's Canadian headquarters. Cut off from its sources of revenue, Barcelona Traction could not pay the interest on its outstanding bonds, most of which were held outside Spain. They tumbled in value, were quickly snapped...
March then pressured Franco's courts to declare Barcelona Traction bankrupt. Since Barcelona Traction held all of the Catalonian utilities common stock in Canada, the courts ordered "duplicate" shares printed in Spain, auctioned off the counterfeit shares to the highest bidder-who was, of course, Juan March. Control of the multimillion-dollar empire thus passed to March for only $900,000. Sofina, left with a paper corporation, fought the case through the courts, spent more than $3,000,000 on legal fees. Even if Sofina wins a whopping settlement (prospect: $13 million to $16 million) March has a bargain...
Franco's police knew better. As Sabater's little band made its way down into the Catalonian foothills, a small Guardia Civil force surrounded Sabater's men after they had stopped for the night in a farmhouse. Sabater shot...