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...share, or a possible total of some $140 million. The rest of Toolco's divisions will be massed under a new umbrella organization called the Summa Corp., presumably for the Latin word meaning highest. The billion-aire-in-hiding, who is reportedly living in Managua, Nicaragua, was expectably silent on his reasons for the sale. Hughes' ex-Financial Adviser Noah Dietrich speculated that "he needs cash" to shore up his Nevada gambling interests and the Hughes Airwest airlines, both hard hit in the recession. Hughes may also need a reserve against the pressure of several pending lawsuits, especially...

Author: /time Magazine | Title: CORPORATIONS: Hughes in Public | 10/30/1972 | See Source »

...interview. Instead, an official of the agency visited the recluse at his Vancouver hotel. When asked how Hughes likes life in Canada, the immigration agent replied, "How did he like it in Las Vegas? How did he like it in the Bahamas? How did he like it in Nicaragua? How should he know? He never goes outside...

Author: /time Magazine | Title: People, Jun. 19, 1972 | 6/19/1972 | See Source »

...Solution. Unlike the revolts led by such classic guerrillas as Mexico's Emiliano Zapata and Nicaragua's Augusto Sandino in the earlier part of this century, most contemporary terrorist movements are strongly ideological. Their leaders emulate Cuba's late Che Guevara and such flamboyant Guevarists as Brazil's Carlos Marighella, who was killed by Brazilian police in 1969. No Latin American government has yet found a way to deal with its guerrillas effectively except by repression-a strategy that may control the terrorists for a time, but does nothing to solve the root cause of their...

Author: /time Magazine | Title: LATIN AMERICA: A State of Internal War | 4/24/1972 | See Source »

Poltergeist. The day after the Irvings pleaded guilty, Howard Hughes, the sometimes eerie presence in the case, was rattling around again like a restless poltergeist. He had spent 19 days ensconced in the Hotel Inter-Continental in Managua, Nicaragua, where he may have discussed a link between his Hughes Air West and the country's national airline, and possibly tried to unload two of his mothballed four-engine Convair 880 jets. In another elusively Hughesian airlift he was spirited out of Managua and moved to yet another bank of upper-story suites, this time on the 19th and 20th...

Author: /time Magazine | Title: ECCENTRICS: Howard Lives | 3/27/1972 | See Source »

When Hughes arrived in Vancouver, according to Canadian Customs Officer John Jackson, he was wearing pajamas, robe and slippers. Unaccountably, Jackson said that Hughes was wearing only a thin mustache and not the Vandyke beard that Shelton said he had when he left Nicaragua. "He looked weary and tired," with a thin, lined face and graying hair slicked back, Jackson said. An aide told customs authorities that Hughes would probably not stay in Canada more than three months, the maximum allowed for visitors without visas. Hughes was spared one routine question directed at arrivals in Canada: no one asked...

Author: /time Magazine | Title: ECCENTRICS: Howard Lives | 3/27/1972 | See Source »

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