Word: soriano
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Dates: during 1960-1969
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...under the flutter of ceiling fans, the talk is of sugar prices and the new timber-cut in Mindanao as the members of Manila's power elite discuss their endeavors. Polished ilustrados in dark Italian suits and handsome women in bright mestiza dresses nod politely to aging Carmen Soriano and her 39-year-old son José Maria, heirs of the Soriano fortune (Cebu copper mines, Samar iron, Mindoro cattle and dairy, Mindanao mahogany and San Miguel beer). American businessmen from Esso and Caltex, Hawaiian Dole and General Foods, are prominent in the Manila Polo Club; the Phil-Am Life Insurance...
Died. Andres Soriano, 66, Philippine industrialist-financier who built a personal fortune estimated at $80 million, first as president of the family-owned San Miguel Brewery, then as chief stockholder of an ever-proliferating flock of businesses that included at one time or another the Philippine Air Lines, the Philippines Herald, and mining, fertilizer, electronics, engineering and insurance companies; of cancer; in Boston...
...Cost of Anger. Soriano's modernity has its limits. Many of his employee benefits seem at least partly designed to keep his workers out of unions-which are anathema to Soriano. And his aristocratic hauteur has provoked resentments that are slow to die. A Spanish citizen by birth, Soriano supported the Franco regime in the 1930s, and when he became a Philippine citizen in 1941 was denounced by some Filipinos as a Fascist advance man. The charge cut so deeply that in 1945 Soriano angrily switched to U.S. citizenship-to which he was entitled because of his World...
...citizenship haunted Soriano last year during a bitter battle with rival Manila Capitalist Eugenio Lopez over the management of Philippine Air Lines, which Soriano organized in 1941. Attacked as a foreigner guilty of monopolistic profiteering, Soriano lost his temper during a Senate hearing on his management of P.A.L. and incautiously snapped out: "A thief thinks everyone else is a thief." The Senate committee issued a report imply ing that some of Soriano's other enter prises had been overcharging P.A.L. for their services - whereupon Soriano gave up operating the airline. But his with drawal has not kept...
Keeping a sharp eye on all his scattered enterprises, Soriano commutes between the Philippines. Hong Kong, the U.S. and Spain. Says Son Jose. 37: "He has a resi dence in Manila, a domicile in New York - and he lives in an airplane...