Word: venezuelan
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With what was perhaps the best-spent $135 million in the history of business, the Standard Oil Co. (NJ.) in 1932 bought oil concessions under Lake Maracaibo to add to its Venezuelan affiliates. Now the Creole Petroleum Corp. (formed from those affiliates) is the biggest overseas investment in any single country by any U.S. company. It is also Jersey's best money earner, accounting for 48% of the parent company's dividend income in 1954. All by itself, Creole provides Venezuela with about 30% of government revenue. This week, in its fourth study entitled U.S. Business Performance Abroad...
...also: ¶ Pays top wages. Common laborers earn $6 a day, foremen $13, plus so many fringe benefits, e.g., Sunday pay, year-end bonuses, housing, schooling, hospital care and cheap commissary supplies, that real wages are nearly triple normal wages. ¶ "Lives in a fishbowl." Example: in response to Venezuelan suspicions that Creole might be selling oil cheap to Jersey's refining and marketing organizations, deliberately cutting its profits and therefore the government's oil income, Creole initiated clarifying discussions between the government and those companies. ¶ Gives preference to Venezuelans in employment. Nine out of ten Creole...
Wineskins squirted into thirsty mouths; trumpets blared the heart-quickening paso doble of the brave fiesta; cries of Ole! rang across a bull ring that is an exact copy of the one in old Seville. It was the privilege of the prosperous Venezuelan city of Maracay (pop. 64,535) last week to witness the return to the ring of Luis Miguel Dominguin, 30, most artful living bullfighter, who retired in 1953 after eleven active years. The privilege cost Maracay $50,000 for two weekend corridas. That was the highest pay ever given to a bullfighter, but the promoter knew what...
...years, the building boom has raised the height of typical buildings in Caracas, Venezuela from one to 20-odd stories. Such handsome buildings as the auditorium of Caracas' University City, with its high concrete vault filled with free-floating colored panels by U.S. Mobile Maker Alexander Calder, have put Venezuelan Architect Carlos Raśl Villanueva in the front rank of Latin American designers. Puerto Rico boasts a well-done hotel, the Caribe Hilton, and Henry Klumb's outstanding Catholic church near San Juan...
...charts and tried to figure just how it had overlooked those South American visitors. The Laurel band, to its credit, recovered first. "Let us all stand," stuttered an announcer as the band broke into Gloria al Bravo Pueblo. Someone had had the forethought to supply the music of the Venezuelan national anthem...