Word: latinization
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Dates: during 2000-2009
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...1950s. The drivers were international expansion and domestic innovation, and the leader was Walter Wriston. The bank's CEO from 1967 to 1984, Wriston changed the y in City to an i. After years of success, though, he left the bank with billions in bad loans to Latin America. Only profits generated by the U.S. retail-banking and credit-card juggernaut built by Wriston's protégé John Reed--combined with a certain amount of forbearance by bank regulators and a lot of cash from Saudi Arabia--enabled Citi to survive. Reed then agreed to a 1998 merger with Travelers...
...great fit," said Chrysler chairman Bob Nardelli in the joint communiqué. "It creates the potential for a powerful new global competitor." Nardelli pointed to Fiat's "competitive, fuel-efficient vehicle platforms, powertrain and components" as well as its distribution outside North America, including sales networks in Asia and Latin America...
...Changing policy priorities in Latin America shouldn't be that tall an order. Nor should the more symbolic gestures - like Obama's plans to close the U.S. military prison at Guantánamo or lift Bush's draconian restrictions on Cuban-American travel and remittances to Cuba - which mean a lot in a region where Monroe Doctrine is a dirty term. If Obama demonstrates that he's more interested in helping Haiti with green-energy projects like jatropha-seed oil than he is in making Bolivia eradicate more and more coca bushes, or more committed to steering U.S. aid toward...
...Obama says he's willing to sit down and talk with Chávez and Castro - but he's not a big fan of the Latin left's populism. In a speech last May in Miami, he did slam Bush's Americas policy as "negligent toward our friends, ineffective with our adversaries, disinterested in the challenges that matter in people's lives and incapable of advancing our interests in the region." Yet he also suggested that "demagogues like Chávez have stepped into the vacuum. [Their] predictable yet perilous mix of anti-American rhetoric, authoritarian government and checkbook diplomacy...
...responded to Obama's criticisms on Thursday: "Don't say Chávez is throwing stones," he said. "Obama already threw the first one." So while Saab says Latin pols like himself have "reasonably positive expectations" about Obama, they're "skeptical." But even if the U.S. doesn't give Saab a visa while Obama is President, a sufficient number of Latin Americans are likely to see enough change in gringo policy to soften their resentment toward the U.S. And if Obama is smart, he'll see that as a good start instead of an afterthought...