Word: jari
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Last week, after investing more than $1 billion, Ludwig, 84 and ailing, decided to abandon his cherished "Jari" project, named for an Amazon tributary that winds through the property. Possibly the largest entrepreneurial effort ever undertaken by one man, Jari had just begun to generate significant cash flows, but they were nowhere near as large as Ludwig had originally envisioned. Jari will now be sold to a consortium of Brazilian banks, insurance companies and industrial groups...
...vast stretches of virtually unpopulated jungle, he built a string of airstrips, thousands of miles of roads traveled by hundreds of cars and trucks, a private railway to haul freight, a deep-water port, a hospital, a school and a giant service depot stocked with spare parts and equipment. Jari's capital, Monte Dourado (pop. 35,000), is a sprawling community of neat bungalows, town houses and apartments...
Ludwig's associates said last week that the failing health of their 84-year-old boss was one reason for his giving up on Jari. But others were of the opinion that the billionaire quit simply because Jari had ceased to be a good prospect. Pesky government regulations and a xenophobic attitude among Brazilians further discouraged...
...Once at Jari, Ludwig ignores the successful projects to concentrate on problem areas. Like a conceptual architect who carries the blueprints in his mind, he supervises new undertakings down to the most minute detail. Yet he is becoming less dictatorial. The present project chief, John Trescot Jr., 54, an ace cost cutter who has been on the job for six months, claims that he can actually argue with him over decisions. Ludwig is beginning to accept a substantial dilution of his authority. He has created an eight-man committee that exercises an overall policymaking role. Also, Ludwig has willed Jari...
There is method in Ludwig's mellowness. The Jari project is approaching the crucial second stage of development. The present pulp mill is planned eventually to turn out 750 metric tons daily, making it moderately large by world standards. If the project is to be fully successful, Ludwig needs to install another plant, which might process pulp into newsprint. Luckily, large deposits of kaolin, a white mineral used in papermaking, have been found on the Jari property...