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Venezuela. Nationalization of all oil operations will be completed by Jan. 1. Venezuelan Oil Minister Valentin Hernandez said the government would pay 39 foreign companies slightly more than $1 billion in cash and 6% bonds for their holdings. Exxon will get $512 million, Shell $240 million. The companies are not satisfied-Exxon reportedly had hoped to get $90 million more -but they have reluctantly accepted the government's offer and are planning to market nationalized Venezuelan oil in North America and Europe...

Author: /time Magazine | Title: OIL: Buying Out the Wells | 12/15/1975 | See Source »

...Pennsylvania title from the car lists a Trenton, NJ. address. Six N.Y.P.D. officers head for Trenton; the address is phony. Others head for Philadelphia to check out Nelson Hernandez, listed as the car's owner. They learn that he has bought at least five cars in recent weeks; all the addresses on the papers are false. Back in New York, the police check out a dozen possible Frankies and are convinced their man is Frankie Segarra, a small-time pusher. Other officers trace a dog-vaccination certificate that they found in the Plymouth to the girl friend...

Author: /time Magazine | Title: The Law: Anatomy of a Man Hunt | 10/6/1975 | See Source »

...mind. "There are 30,000 cops looking for that guy," says Averill. The dragnet has turned up unanticipated side benefits. The bank-robbery evidence has led to the tagging of two more men-already jailed on different offenses-as accomplices of Velez, Segarra and Car Owner Hernandez (who is wanted for allegedly taking part in the bank jobs). Raids based on tips about the suspects in the cop-killing cases have also uncovered various small caches of narcotics and $8,000 in cash, and led to the arrest of a parole violator wanted for two years. But no trace...

Author: /time Magazine | Title: The Law: Anatomy of a Man Hunt | 10/6/1975 | See Source »

...officer beats him to the homemade grenade he is carrying and also snatches his pistol, a .38 revolver. He is Velez-with his once bushy Afro shaved. The police also arrest another man, wanted in the bank robberies. Four hours later, in Brooklyn, they find Car Owner Hernandez, real name Eco Avila. After Velez, 26, is booked on charges of double homicide, Lieutenant Yuknes says, "We've been home twice since this started." But he can't go home yet. There is a morning press conference. The mayor will show up and say it was "a terrific arrest...

Author: /time Magazine | Title: The Law: Anatomy of a Man Hunt | 10/6/1975 | See Source »

Thank you for bringing to mind the greatest experience in our married life-our Marriage Encounter weekend. Four years later we continue to write each other love letters and we dialogue. Bob & Maria Hernandez Beverly Hills, Calif...

Author: /time Magazine | Title: Forum, May 5, 1975 | 5/5/1975 | See Source »

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