Word: rico
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Dates: during 1960-1969
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...Camp's choice was to go elsewhere in search of cheaper labor. The first step was into American Samoa, where the company based a fishing fleet and built a cannery. Then, in quick succession, Van Camp bought a cannery in Puerto Rico, set up two freezing plants on Africa's Atlantic coast, and established four canneries in Peru and one in Ecuador. Meanwhile, the U.S. Government helped out by increasing the tariff on Japanese tuna. The result has been a sharp turnaround for Van Camp: in the past ten years, the company has doubled its sales...
...skills. Fun-loving José, now 60, was sent to study business administration at Boston University, today functions as the family's salesman and visionary deal maker. Reflective Luis, 58, who studied mechanical engineering at M.I.T., is the organizer, labor relations chief and, as the leader of Puerto Rico's Republican Party, the family politician. The production expert is Herman, 53. a quiet sort who majored in civil engineering at M.I.T. (A fourth brother, Carlos, who died in 1958, was a chemical engineer...
This is the palmy time of year in Puerto Rico, when fugitives from the mainland crowd the island's modernistic concrete hotels, hoping to warm their bones and tan their hides. Virtually every dollar the tourists spend somehow turns a profit for three forceful brothers named Ferré (rhymes with beret...
Since World War II the Ferrés-José, Luis and Herman-have built a complex of seven companies into Puerto Rico's biggest private business. Today the Ferrés make 90% of the island's cement, nearly all its bottles and most of its tile and paperboard. They also fabricate steel, make sugar-milling equipment, and are partners with Pan Am in the jazzy new El Ponce Intercontinental hotel. In 1962 the Ferré enterprises grossed $80 million and netted, after taxes, some...
Plans for Reform. He is Juan Bosch. 53, a novelist, journalist and longstanding political friend of such charter members of the Latin American "democratic left'' as Puerto Rico's Governor Luis Munoz Marin and Venezuela's President Romulo Betancourt. Like Munoz Marin, Bosch has great plans for reforming and developing his island country. Like Betancourt, he spent much of his life in exile plotting revolution-and then modified his views in favor of constitutional government...