Word: hondurans
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Early one morning last February, Eli M. Black, 53-year-old chairman of United Brands Co., plunged to his death from his 44th-floor Manhattan office. Early last week General Oswaldo López Arellano, 53-year-old Honduran chief of state, was overthrown in a bloodless coup. The link between the two men was an alleged $1.25 million bribe that is now being investigated by both the U.S. Securities and Exchange Commission and a Honduran commission...
Anticipating the investigations that would inevitably follow Black's suicide, United Brands, a conglomerate with 1974 sales of $2 billion, admitted three weeks ago that it had bribed a top Honduran official last year in order to gain lower banana-export taxes (TIME, April 21); suspicion immediately focused on President Lopez. The Honduran commission has not yet unearthed any hard evidence that pinpoints Lopez, but the fact that he was the only official under investigation who refused to allow a review of his foreign bank accounts was considered sufficient grounds for his dismissal. The force behind the coup...
...Honduran Bribery...
...Manhattan's Pan Am Building. An ordained rabbi before going into business, Black in 1967 acquired John Morrell & Co., an ailing $800 million meat packer, which he merged with United Fruit Co. in 1970. Throughout 1974 a series of crises bled Black's empire: hurricanes wrecked Honduran banana plantations, Central American governments imposed heavy export taxes, and the cost of feeding cattle skyrocketed. Since November, when United Brands reported losing over $40 million in the year's first three quarters, Black had worked 16-to 18-hour days...
...plot, if it can be called that, is harmless enough. One Don Pepe Hernandez, a would-be impresario in the tiny Honduran coastal town of Trujillo, has rented a decrepit nightclub with money from his uncle, the owner of the local Coca-Cola bottling plant. His show, which he calls La Parada de Estrellas, or Parade of Stars, is advertised as featuring "international cabaret stars," who turn out to be four members of his family wearing various transparent disguises. The play consists of one full run-through of Hernandez's show...