Word: localism
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Dates: during 1950-1959
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Nabisco-Famosa. The fastest-growing kind of foreign investment in Latin America is the joint venture combining skills and capital from abroad with capital and a knowledge of markets from local citizens. In an age of nationalism, the joint venture helps to give Latin America the outside capital it needs while giving the outside capitalist the security he wants...
While the local participation means an easier way through local prejudices, it also means taking on headaches. Biggest is the expectation of high returns by local investors. In an area where investment firms guarantee 8% and manufacturing profits sometimes top 50%, investors are loath to accept less, and dislike U.S.-type management, which believes in building up large reserves, plowing profits back into expansion. Nevertheless, the investors seem to be swinging around to the U.S. concept. In Brazil, where U.S. owners in 1945 held 95% of the stock in 67 companies, today they hold 95% in only 17 companies...
...practice, the local-option act satisfied neither wets nor drys, and as provincial liquor laws were enacted, more and more communities abandoned it. Last week two Ontario counties, the last holdouts, opted out, and after 81 years the Canada Temperance Act was dead...
...them, and I can break them." At week's end, Montreal Wrestling Promoter Eddie Quinn, a part owner of El Morocco, reasoned that the Crosby combo had been booked all wrong to begin with. He offered them a good deal for a tag-team grappling match in a local arena next month, figuring that a two-against-two skirmish "might be fairer...
...first stops on the 19-day itinerary, Hagerty's corps, competing with swarms of local reporters and photographers, knew exactly what the battle orders were and, with most of the variables removed from the operation, set themselves to cover a story of unprecedented proportions...