Word: cruzeiro
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...contractors, flew in the first building materials at high cost. Through Kubitschek, Novacap raided departmental budgets. Checking the figures, newsmen have found at least $117 million of financing for Brasilia. It absorbed, for example, 95% of all hospital construction funds for 1959. As deficit spending sent the cruzeiro spiraling from 65 to 200 to the dollar, the opposition awoke. "The limit of insanity! A dictatorship in the desert!" cried Rio's Correio da Manhã. "Madness," echoed O Globo. Kubitschek, sensing now a grand cause, replied: "The capital is moving, and anybody who tries to stop it will...
...this kind of laughing, guard-down approval, the U.S.S.R. is footing the circus' whole $150,000 South American travel bill. The weekly 0 Cruzeiro announced it was well aware that the show was an "instrument of Soviet penetration," but added that "a circus is always welcome anywhere on earth, and the Moscow circus is certainly welcome here.'' Next targets: Argentina, Chile, Peru...
After President Juscelino Kubitschek made José Maria Alkmim his Finance Minister 28 months ago, Brazil's economic position steadily slipped. The cruzeiro free rate dropped from 70 to 147 to the dollar. A 14 million-bag mountain of surplus coffee piled up, and so did the balance of payments deficit. The U.S. promised help -provided something was done about the fiscal chaos. Last week Kubitschek replaced Alkmim with Lucas Lopes, a brilliant engineer who masterminded Kubitschek's ambitious development plan...
Over rutted Brazilian jungle trails last week jounced a task force of clay-spattered, green-and-yellow jeeps, carrying as incongruous a crew as ever penetrated the steaming wilderness. They were securities salesmen, hardy young men carrying briefcases, who were on their way to sell a 208 million-cruzeiro ($1.6 million) issue of stock in Willys Overland do Brasil to back-country natives who had never even heard of Wall Street...
Sign the Mayor. Dauphinot left Kidder in 1946 and formed Deltec S.A. in Rio de Janeiro. Initial capitalization: about $2,500. His first deal was to sell a 15,000,000 cruzeiro ($750,000) stock issue for an American & Foreign Power Co. subsidiary. With a sales crew of 25, Dauphinot began a door-to-door selling campaign. But after six months, only about half the issue had been sold, and all but one salesman had quit. The undaunted survivor, Paulo Quartin, son of a Brazilian diplomat, doggedly kept at the job and succeeded, by year's end, in selling...