Word: soriano
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...highest factory wages in the Far East, knows as many as 2,000 by name. They get a free 100-lb. monthly ration of rice, free medical care, lifelong pensions, and have a commissary with the cheapest prices in Manila. When a toy shortage developed just before Christmas, Soriano dispatched a special P.A.L. plane to Hong Kong to pick up a load of toys for his employees' children...
Glittering Chest. When Japan invaded the Philippines, Soriano organized a guerrilla army, was one of General MacArthur's right-hand men (as a full colonel) in recapturing the islands. As a result, he can wear a cluster of decorations (including the Silver Star) on his Reserve officer's uniform. He sends a daily ration of free beer to the Filipino troops fighting in Korea...
This week Don Andres Soriano, 53, had some good news about one of his biggest enterprises: Philippine Air Lines, which he runs as junior partner (28% owner) with the government (52%). Deep in the red two years ago, P.A.L. broke into the black last year with a $350,000 profit, this year chalked up a first-half net of $636,000, 33 times as much as in the same 1950 period. Next to giant Pan Am, it is now the most profitable international airline in the world. It has 43 planes, routes from Manila over two-thirds of the globe...
Bubbling Suds. Soriano, a U.S. citizen since 1945, began his empire-building as a 21-year-old accountant in Manila's San Miguel Brewery. Within six years he rose to general manager. He plowed most of his salary and all the money he could borrow into expanding the business. Today the brewery grosses more than $30 million a year, netted $3,500,000 in 1951's first half...
With his brewery profits, Soriano has bought mines, dairies, factories, forests, a radio station, owns the third largest Coca-Cola bottling franchise in the world, acts as Philippine agent for five insurance firms, distributor for Philip Morris cigarettes and Lord Calvert whiskey. Nor are his interests purely local. He controls Kansas City's George Muehlebach Brewing Co., bosses gold mines in British East Africa, a development company in Spain. His holdings stretch so far & wide that one top executive, who has been with him 15 years, says: "I still haven't been able to memorize even the names...