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...properties. Since World War II, increased expenses and government-set rates have caught the U.S. and Canadian companies that run Brazil's telephone and power plants in a profit squeeze that has kept them from needed expansion. Canada's $1 billion Brazilian Traction, Light & Power Co. Ltd., which owns 82% of Brazil's 956,000 telephones and one-third of the installed power capacity, has been making only 1% to 2% on its investment. It says it can do nothing about the complaint that some 300,000 citizens of Rio de Janeiro have been waiting as long...
When trim John G. Paimer, 50, chairman of Australia's Ready Mixed Concrete, Ltd., decided to issue 750,000 new shares of stock in his company's British subsidiary, he and his colleagues were a bit worried by the shaky state of the London stock market. To their astonishment, British investors rushed in to oversubscribe the issue 60 times, thereby forcing a drawing to see who would actually get the coveted shares. The reason for all the enthusiasm: since Palmer, a New Zealand-born corporation lawyer, joined Ready Mixed as a director in 1945, the company has expanded...
Sellers is fired. His naivete proves negotiable, however. A member of the city council of Paris (Herbert Lorn) sets him up as the figurehead of Topaze Ltd.. a vast and rapidly diversifying holding company, mainly holding contracts with the Paris city council. He is approached by blackmailers and surrounded by swindlers...
...member of the Business faculty for more than 20 years, Lombard will succeed Russel H. Hassler, who is resigning to become an officer and director of the Hawaiian Electric Co., Ltd., in Honolulu...
Under hurry-up development by Hawker Aircraft Ltd. since 1959, the P-1127 has convinced Pentagon authorities that it is two years ahead of U.S. rivals. It is built around the Bristol Siddeley BS-53 Pegasus, a remarkable jet engine that discharges large volumes of comparatively slow-speed air through four swiveling nozzles that can point either front, back or down. When the VTOL is ready for vertical takeoff, the pilot points all the nozzles down, revs the engine, and the plane rises straight up on an even keel. When sufficiently clear of the ground, the pilot turns the nozzles...