Word: expropriationism
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In Latin America, where U.S. private investments exceed $4.7 billion (40% of all U.S. venture capital abroad), the biggest problem is "creeping expropriation," i.e., harassment of U.S.-controlled enterprises by discriminatory taxes and labor requirements. Major offender: Argentina, Brazil's liberal treatment of capital is off-set by social...
Twelve miles away in Tokyo's district court, Britain's Anglo-Iranian Oil Co. tried to block the oil sale. At issue: the question whether the oil, legally purchased from the government of Iran, was actually "stolen" from the British in the expropriation. The British lost the first...
Company lands now planted in bananas, African oil palms and other crops, as well as dairy pastures, planted mahogany forests and building sites, are exempt from expropriation. Thus the drastic seizure will not immediately end United Fruit's Guatemala operation. But eventually, as the inevitable "Panama disease" (a fungus...
For Anglo-Iranian, the Kent plant was the first big milestone on the road back from the catastrophe of expropriation in Iran. Anglo-Iranian lost 77% of its production of crude and 80% of its refinery capacity in the billion-dollar plant at Abadan, largest refinery in the world. Coming...
To a swelling chorus of businessmen demanding a reduction in U.S. tariffs the voice of Henry Ford II was added this week. The U.S., said Ford Motor Co.'s boss in a speech scheduled before the Inland Daily Press Association, "can and should step forth boldly and lead the...