Word: goulart
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...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...
...Brazil lives in an endless financial crisis, is so deeply in debt to other countries that it is on the brink of bankruptcy. The country's inflation is incredible: prices went up about 85% last year. Much to blame is the government of demagogic President João Goulart, who hints that he would turn to the Soviet Union if the U.S. cut its financial aid. The U.S. continues to pour in money, will probably reschedule all Brazil's debts soon for easier payment...
...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...
...DEMANDS CTI ON CL IN GBA, announced the headlines in Rio news papers. Too much bottled cheer in the composing room? Not at all. As savvy Brazilians saw at a glance, it was the perfectly normal way of saying that President Joao Goulart's Brazilian Labor Party demanded a parliamentary investigation into the actions of Governor Carlos Lacerda of Guanabara state. In their casual conversations, Brazilians can be just as cryptic, leaving the befuddled stranger convinced that, letter for letter, Brazil is the world's most overalphabetized nation...