Word: goulart
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Dates: during 1960-1969
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Hunting License. The spirit of '32 has been rekindled by volatile "Jango" Goulart. After 2½ years of political zigs and zags and soaring inflation, the President last month lunged sharply left, seeking power in ways that deeply disturb and alarm many of his countrymen. Goulart has cut off all discount loans from the Bank of Brazil to politically unfriendly banks, has nationalized oil refineries and threatened to expropriate almost everything else in sight. He favors legalizing the Communist Party, is campaigning also for sweeping constitutional "reforms" that would enfranchise millions of illiterates, lift the constitutional...
President Joao Goulart has just signed a decree doubling the monthly minimum wage for urban Brazilian workers to 42,000 cruzeiros, which is $68 on the official exchange rate and about $30 in actual buying power. The workers are glad to get the cash they need to chase rising prices, but the new move adds just another episode to the nightmare that businessmen must endure to survive in Brazil. Says William Jones, general manager of Remington Rand in Brazil: "Every executive here should read Through the Looking Glass at least once each week-especially that part where Alice is told...
...company. He stopped all hiring (8,000 new employees were added during the two preceding years), looked into shady dealings of Petrobras executives, twice blocked strikes approved by a Petrobras director, and cracked down sharply on lavish publicity spending. Silva took his evidence to Brazil's President Joao Goulart. When word leaked out, a newspaper article appeared with statements accusing the general himself of engineering a "major underhanded deal" involving the purchase of $200 million worth of oil from "a large petroleum company"-later identified as U.S.-owned Esso Brasileira. Silva, said a union-nominated director, was a "docile...
...Goulart called the whole blowup a "campaign which certain interests are carrying out against the government under the pretext of disclosing scandals in companies that belong to the people's patrimony. What they want is to destroy Petrobras. I believe in the defense of Petrobras." As part of that defense, he fired the company's three directors and its crusading President Silva. To replace Silva, Goulart chose Marshal Osvino Alves, 66, an old friend and former chief of Brazil's first army -who took over as the eighth president of Petrobras in ten years...
...America's largest nation could do much more to discourage foreign investment. But Brazil-which already offers inflation galloping at 84% a year, xenophobic politicians, irresponsible strikes, sporadic power blackouts and water shortages-has managed to add another obstacle. After 16 months of debate, President João Goulart finally signed the toughest profits-control decree in the hemisphere. In 83 ambiguous articles, it says that foreign companies can send back in profit each year no more than 10% of their "registered investments...