Word: sul
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Dates: during 1960-1969
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Brazil's recent practice of expropriating U.S. companies was proving both expensive and risky. In February 1962, the state government in Rio Grande do Sul expropriated Companhia Telefônica Nacional, an International Telephone and Telegraph subsidiary. Five months later, the governor of Pernambuco took over a subsidiary of American & Foreign Power Co., Pernambuco Tramways and Power Co. In both cases, the companies received little or no payment, while the companies' legal protests ground their way through Brazil's agonizingly slow courts-years and perhaps decades away from firm settlement. Last week, suddenly, both companies were near...
...dropped 10% last year, some 35 U.S. companies have recently canceled investment plans. New investment in Brazil has been discouraged by a law that prohibits foreign companies from withdrawing any profits above 10% of invested capital and by expropriation of an International Telephone & Telegraph facility in Rio Grande do Sul...
...rugged five-year tour of duty sowing the Protestant gospel on the stony soil of Brazil's Parana state, near the Argentine border. Now the gaunt, 59-year-old Baptist was heading home for Canada. With his wife and their three youngest children, he jeeped into Laranjeiras do Sul (pop. 2,000) and went to a local doctor for certificates of vaccination. Told that the Orrs had all been vaccinated six or seven years earlier, the doctor perfunctorily issued "certificates of immunity...
Goulart's conservative opposition had already rejected his first choice for a Prime Minister, and Goulart himself had fallen out with his second. His third choice was hardly reassuring, Francisco de Paula Brochado da Rocha, 51, comes from Goulart's home state of Rio Grande do Sul and is an aide and confidant to Leonel Brizola, the state's rabble-rousing, far-left governor. Brochado da Rocha himself was a key man in the expropriation last February of Rio Grande's $7,000,000 U.S.-owned International Telephone & Telegraph Corp. subsidiary. Still, sensing the public unrest...
...plan under which the utilities would be nationalized for fair value. Brazilian Traction agreed. So did American & Foreign Power Co. Inc., whose eleven subsidiaries, worth $250 million, produce 10% of Brazil's power. International Telephone & Telegraph Corp., which recently lost a telephone system to Rio Grande do Sul's Leftist Governor Leonel Brizola and is still trying to collect, was noncommittal. But Goulart's decree last week should do something to ease I.T. & T.'s pain. The government promises a down payment of 10%, with the rest to be repaid on a long-term basis provided...