Word: rum
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Dates: during 1980-1989
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Last week's family reunion in the Biltmore Hotel in Coral Gables, Fla., might have been a joyous one. The Bacardis could have marked the 125th anniversary of the development by their forebear Don Facundo Bacardi of a way to produce a light, clean rum. His label now accounts for half of world rum sales. But instead of a celebratory gathering of the clan, the stockholders' meeting of Bacardi Corp. on Thursday was another episode in a high-stakes corporate and family feud. A battle for control of the company has split the more than 500 Bacardi heirs and apparently...
Over the years the Bacardi heirs have established a complicated network of independent companies stretching from Mexico to Europe. Many of them share the same officers, and all stick to the same standards for producing Bacardi rum. Puerto Rico-based Bacardi Corp. is the only portion of the empire that is a publicly traded company, and that is the point of contention. Last year Bacardi Corp.'s two top officers, Chairman Alfred O'Hara and President Manuel Luis Del Valle, launched a campaign to take the Bacardi Corp. private. In a proxy statement, they said such a move would "reduce...
...more than 300 shareholders. On one day in April, three Bacardis met at Miami's airport and created 240 trusts. Management claims that these shifts came too late. Whatever the outcome, it seems that in the distilling business blood may be thicker than water, but not necessarily thicker than rum...
...cigars. But the results of the health campaign have been mixed. Officials claim that tobacco consumption dropped 23% in the campaign's first year, but not all Cubans have become converts to clean living. On the compulsory Saturday workday, a foursome of male goldbrickers sharing a bottle of bootleg rum on a Havana side street snorted at the thought of regular workouts. Referring to a well-publicized campaign aimed at older men, one scoffed, "Exercise is for grandfathers...
Until this week, LAO achieved greatest recognition in the last few years from its Salsa party, members said. Although another party is planned this year, "The purpose of this week is to show Americans that there is more to Puerto Rico than Salsa, rum and status politics," said Ortiz-Blanes...