Word: million
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Dates: during 1950-1959
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...with its distributors in Brazil organized Willys-Overland do Brasil, capitalized at $250,000, more than 50% from the U.S. mother firm, the rest from Brazilians. Now Willys do Brasil is South America's biggest carmaker (110,000 units scheduled for 1960), has a capitalization of $34 million, 55% owned by Brazilians, 35% by Willys of U.S., 10% by French investors. Half of its 6,000 Brazilian workers own shares, 95% of the Jeep parts are locally made, and Brazilians proudly call the product o Jipe Brasileiro. Says Founder Hickman Price Jr.: "Willys do Brasil is not an American...
...Mexico the joint venture accounts for 11% of the total $544 million U.S. investment in Mexico since 1950, includes many mergings of U.S. private capital with Mexican government funds. The Mexican government and the Celanese Corp. of America formed the jointly owned Celanese Mexicana, now grown 16 times into a corporation capitalized at $27 million. Other outstanding joint ventures in Mexico: Nabisco-Famosa (biscuits), Altos Hornos (steel), Tubos de Acero (a combine with Italian, French and Swedish capitalists to make steel pipe...
...adjustment, which set the tone of LÓpez Mateos' first year, was a tough and successful fight to save the peso from devaluation. In the first six months of 1958, under free-spending President Luis Ruiz Cortines, the country piled up a $96 million deficit abroad, a budget in the red by $66 million. LÓpez Mateos reversed course and slashed imports by $20 million a month by whacking public spending. The results: a severe crimp in the construction industry, a mild recession through much of the economy, but a nearly balanced budget and a favorable trade...
...Broadcast Governors (TIME, Nov. 16) will soon begin licensing private-enterprise second stations in all major cities. CBC President Alphonse Ouimet, 51, whose $17,000-a-year salary is less than one-sixth as much as NBC's President Robert Kintner's, expects to clear only $40 million in advertising revenues this year, and Parliament will have to make up the rest of CBC's $75 million budget (v. $37 million for Britain...
...runs its business, and all of it has been fully reported by the nation's daily and periodical press. Last week, at a luncheon for the Magazine Publishers Association in Manhattan's Hotel Pierre, Leo Burnett, 68, bustling Chicago advertising-agency head (Leo Burnett Co., Inc., $102 million in annual billings), stepped up and threw some rocks in another direction: right at his listeners...