Yanqui Dollar A Study of U.S. Investment in Latin America
Even though most current discussions on underdevelopment in Latin America center or at least touch on the effects of foreign investment (particularly U.S.), few, if any, systematic studies have...
...investors who recognize the need to make some apparent concessions to nationalism: in Mexico the nationalist threat has already been dealt with, the "rules of the game" have been clarified, and numberous loopholes and incentives (as well as political stability in the form of one-party rule for decades) have made "Mexicanization" tolerable and extremely profitable to U.S...
...investors...
...Basic Economy Corp...
...5. Government policies relevant to foreign investment (legislation and decrees...
...Grace (NY) Intl...
...NY) City Investing Co...
...families and interest groups...
...private investment in Latin America, the role of U.S...
...e) central bank reports, government documents, etc...
...We are just beginning to develop an appropriate methodology...
...Chart on specific U.S...
...Caterpillar (Peoria, Ill...
...These events, as well as the constant threat from guerrilla movements and other forms of organized resistance, call into serious question precisely what is most important to foreign investors: certainty about the future and, on the part of local elites, clear acceptance of and capacity to implement the basic "rules of the (investment) game...
...These problems of Latin American nationalism are by no means unsurmountable, but they do have the U.S...
...and degree of dependence on overseas production and markets i) what it does and where it operates (including a listing of all operations inside Latin America) j) joint ventures with local capital 3. Whom it Affects and How (for each country it operates in) a) plant locations (company towns, etc...
...corporate elite to the nationalist challenge...
...correspondence and memoranda...
...few, if any, systematic studies have been made by anyone other than corporations themselves and their apologists...
...b) Within the U.S., particularly among those disaffected by the war in Indochina, there is a growing interest in and attention to Latin America...
...Once again, the change will be more apparent than real, insofar as the so-called "multilateral" agencies are largely controlled by U.S...
...of America (ALCOA) (Pittsburgh) American Smelting & Refining (ASARCO) (NY) Anaconda (NY Armco Steel (NY) Bethlehem Steel (NY) Cerro (NY) Hanna Mining Co...
...imperialism in Latin America is hardly a new phenomenon...
...b) the points of weakness and the contradictions within the ruling class (e.g...
...6. Government revenue structure in relation to foreign corporations a) percent of government revenues derived from foreign investments b) tax incentives to foreign investors, etc...
...One of our main concerns has been how the information gathered can be made available to participants in the project, organizers within the U.S...
...IT&T) (NY) Med ia CBS (NY) Readers Digest (Pleasantville, NY) Time (NY) Advertising & Business Services Arthur D. Little (Cambridge, Mass) Price Waterhouse (NY) J.Walter Thompson (NY) McCann Erickson (NY) Banking & Finance AFIA Bank of America (San Francisco) Bankers Trust (NY) Chase Manhattan Bank (NY) Chemical Bank (NY) Continental Illinois Bank (Chicago) Czarnikow-Rionda (NY) Deltec (Chicago) First National Bank of Boston First Nal...
...d certainly, from their point of view, the Code could become a dangerous instrument in the hands of the wrong people...
...investors...
...agreements b) capital intensity (vs...
...2. Local elites and how they interact with foreign interests: a) Their original base of wealth and power and the changes and adaptations they have undergone...
...private investment to Latin America's underdevelopment could serve the needs of several constituencies: a) Latin Americans engaged in the struggle to free their countries from economic dependency and domination have voiced a need for this type of information...
...Electronics (NY) Intl...
...These, then, are some of the responses developed by the U.S...
...We must obtain more accurate information on and a clearer understanding of: a) the new strategies and tactics being devised by the U.S...
...and in Latin America, etc.--not only when the study is completed, after a year or 16 months, but also while it is in progress, during the coming year...
...corporations and banks have been exploiting Latin American resources, markets and labor for nearly a century...
...private interests in Latin America...
...Below is presented the outline of how and why we propose this be done...
...property, formulated under pressure from, and in order to protect the interests of U.S...
...a) tax incentives, special privileges to foreign investors b) labor and social security legislation c) regulations on what sectors can be entered by foreign investors and what percent of equity must be owned by nationals...
...The most recent Bolivian coup in August, 1971, went in favor of U.S...
...Thus this project should be seen largely as a process of collective self-education...
...I I - - -!I I I I Ar I aL I ! IIXXI~~~~~~~~~~~~~~~- 26 - Getting Ourselves Together U.S...
...Nor can they rest assured of total stability--particularly because, despiite themselves, these very corporations contribute to the creation of destabilizing conditions in Latin America...
...Tel...
...investors has taken various forms, many of which are calculated to give the appearance of adapting and becoming "good corporate citizens" in the nationalistic ambience...
...Thus, for example, technical terms should be explained...
...contributions to multilateral institutions such as the World Bank...
...Cleveland) Intl...
...Paper (NY) Kimberly-Clark (Neenah, Wisc...
...investors such as bank newsletters, Business Latin America, Quarterly Economic Review, BOLSA Review, etc...
...Nor can they be sure of total compliance of the local elites in implementing the basic "rules" of the investment game...
...firms insist on maintaining total control of their subsidiaries...
...Regis Paper (NY) Boise Cascade (Boise, Idaho) Pharmaceuticals Merck (Rahway, NJ) Pfizer (NY) Smith, Kline & French (Philadelphia) Squibb-Beech-Nut (NY) Sterling (NY) Upjohn (Kalamazoo, Mich) Warner-Lambert (Morris Plains, NJ) Rohm & Haas (Philadelphia) Motor Vehicles Ford (Dearborn, Mich...
...Despite these obstacles, we think NACLA and the growing number of independent researchers with whom we are in contact can make a substancial contribution towards carrying out such a task...
...Moreover, specific labor constituencies within the U.S...
...New York Review of Books , March 25, 1971...
...Additional uncertainty comes from the political instabilities of the area...
...Not only in Chile and Cuba, but throughout the continent, the information provided in our study can be utilized in specific struggles...
...Everyone is aware that all existing solutions are provisional...
...private investment in Latin America were still insufficient to guarantee the stability demanded by investors...
...6) other gimmicks have been used by U.S...
...investors in Latin America, while simultaneously giving the appearance of adapting and making "concessions" to Latin American nationalists...
...Power (Montreal) Ebasco (Boise Cascade) (Boise) Gen...
...These openings have become evident in the progressive-radical coalitions which, in several countries--for example, Peru, Chile and the Andean Bloc--have given U.S...
...In addition, in December we published a pamphlet, Yanyui Dollar, which was presented as a kickoff for this project...
...c) Private sector pressure groups and relative degree of influence...
...b) employees (unions, labor relations) c) kind of technology d) comsumers (who buys its products or service...
...Given these aspects of the current situation, a major study of the contribution of U.S...
...9. Technology effects a) gross figures on licensing, patent, etc...
...First drafts would be circulated by the participant as widely as possible, particularly to others who could offer constructive comments, criticisms, etc...
...Englewood Cliffs, NJ) Del Monte (San Francisco) General Foods (White Plains, NY) Kellogg (Battle Creek, Mich...
...9) Mexico, in addition, is seen as the newest model for U.S...
...are already engaged in struggles against the same corporate giants that operate throughout Latin America...
...private property...
...desire to maintain a lower profile (camouflage through international institutions...
...t 0) The length of each study will vary, of course, according to the availability of information, etc...
...6. Bibliography and Sources of Information a) major books, magazine articles, newspaper articles, etc...
...What is more, all possible solutions imply anti-imperialism, since the nature of the problems of the underdeveloped world derives from its relations to the developed world, in this instance overwhelmingly the United States...
...Such information would have been invaluable, for example, to the various groups which opposed sell-out concessions to International Nickel in Guatemala and Alcoa in Costa Rica...
...are important to it, and what are its relations with important people in these d) subsidies, tax concessions, incentives, government contracts, concessions, and other rip-offs e) connections via its officers and directors f) advertising campaigns g) policies favored (monetary, labor and employment, credit, tax, public utility, etc...
...and discussing possible continuation or expansion of the project...
...For some beginning hints on methodology and sources, see NACLA's Research Methodology Guide and S. Menshikov, Managers and Millionaires (Moscow: Progress Publishers, 1969...
...DuPont (Wilmington, Del...
...b) corporate histories c) government investigations d) court records of suits against the company e) analysis of the trade literature and trade organizations f) special libraries g) analyses of the company by investment houses h) company reports (whom it has to report to, what these reports contain and how accessible they are).Foods Anderson Clayton (Houston) Borden (NY) Coca Cola (NY) CPC Intl...
...Latin American Nationalism: How to Cope with it The following is a skeletal summary of the section in the YANQUI DOLLAR pamphlet dealing with current trends in U.S...
...The Council of the Americas, the principal organization of the 200-plus largest U.S...
...from agricultural production to the less visible and less risky processing and distribution of agricultural products...
...Public Foreign Debt a) from public institutions (aid): conditions and terms, use, repayment...
...Today, however, there is a demand for accurate information from independent sources...
...This information is difficult to get, try for as much as possible...
...response to this "threat" was a massive counter-insurgency campaign in many Latin American countries, and the Alliance for Progress...
...Lykes-Youngstown (N...
...investors cannot be assured of having the last word...
...clashes of economic and political interests within the ruling class or among different financial and industrial groups, etc...
...discussing various possibilities for formal publication of the information (as a series of pamphlets, books, etc...
...In a recent meeting of the Council on Foreign Relations, Rodman Rockefeller, son of Nelson and head of the IBEC complex, deplored growing Latin American nationalism and desire for national control over national assets as a "psychosis...
...Bolivia and Central America-as seen, for example, in the August, 1971, rightest coup in Bolivia...
...investments (if ambitious, include other foreign investments) organized by sector (see NACLA's pamphlet, New Chile for an example...
...activities in Latin America...
...Finally, at the next LASA meeting (presumably in the spring of 1973), as many of us as possible would have an oportunity to put the pieces together...
...Harvester (Chicago) Transportation & Tourism Braniff (Dallas) Gulf & South American Steamship Hilton (TWA) Holiday Inns (Memphis) Intl...
...Deere (Moline, Ill...
...labor intensity)- 29 - Questions About Corporations 1. Ownership and control (to locate it in a financial group) in U.S...
...But the irony is that, for all their manipulations, models, and international codes, U.S...
...3. Degree of control by foreign interests (by economic sector, as detailed as possible...
...While lowering their profile, however, the corporations have no intention of actually giving up control...
...interests and can be used (as has already begun to happen recently with the Nixon Administration's "get-tough" policy toward Peru, Chile, and others) to penalize countries that tamper with U.S...
...interests--which means that the next one might very well go against them...
...both in the U.S...
...and in Latin America (in Spanish...
...private investment overseas, partly by involving the private sector in the foreign "aid" effort...
...The reasons, no doubt, are the magnitude of the task, the difficulty in obtaining the information and the unwillingness of most established funding sources to underwrite such a project...
...c) We ourselves, progressive or radical "students" of Latin America, have a need to come together around a concrete project...
...We hope readers will join in this project...
...To cite some examples (covered in greater detail in Yanqui Dollar): (1) the Council of the Americas, chief mouthpiece representing 85 percent of U.S...
...Private Investment to Latin America's Growth...
...7) ADELA represents a model for the most sophisticated approach, the attempt to shore up ailing Latin American capitalism--partly by taking some risks which individual U.S...
...developing a methodology for systematic research on U.S...
...f) advertisements and literature from government investment campaigns g) U.S...
...private investment in Latin America -- nationalism and how the American investors are coping with it...
...when, details, by whom , public reaction, etc...
...Others--far more decisive--stem from the needs of groups both in Latin America and in the U.S...
...joint venture partners etc...
...NY) Sears (Chicago) Westinghouse Electric (Pittsburgh) Intl...
...evaluating the information gathered and how best to distribute it and facilitate its use by organizers both in Latin America and in the U.S...
...3) it is becoming more common to hire nationals for (at least second-level) managerial positions...
...IT & T) (NY...
...thus we have included below'a list of suggested specific questions to be answered for each corporation study and for each country study...
...private investment in Latin America...
...b) from private sources (banks): ditto 14...
...Louis) Standard Fruit & Steamship (San Francisco) United Fruit (Boston) Philip Morris (NY) Mining & Metal Industry Aluminum Co...
...Concretely the response of U.S...
...government in protecting those corporations...
...the Council has also done several public relations pieces answering criticisms by the "New Left...
...4) some corporations are shifting their operations, e.g...
...Aside from its essentially defensive public relations efforts, the Council on Foreign Relations (see NACLA Newsletter of November, 1971), is devising new strategies for maintaining intact the privileges of U.S...
...10) but despite the rhetoric about "adapting" to nationalism, U.S...
...IBEC) (NY) Intl...
...Economic Commission for Latin America meeting, calling for a study of private banking as an obstacle to development...
...government toward Latin governments which tamper with U.S...
...This has evidenced itself first in the new "hard line" of the U.S...
...Private U.S...
...On numerous occasions the corporate elite has voiced loud complaints about the Nixon Administration's "low profile" and "passivity" in protecting U.S...
...CLASC or Marxist unions (and compare with local companies) 10...
...NY) Pan American Life Ins...
...With regard to style, each study should be written not for a narrow audience of radicals or of academics, but for a large and fairly diverse audience, not necessarily sympathetic to the anti-imperialist position...
...While this is unlikely to take the form of massive military intervention (as in Southeast Asia) in the next few years, it has already resulted in increasingly heavy diplomatic and economic pressures against countries which step out of line, especially in their treatment of U.S...
...In some cases, participation in the project implies a continuation of research already in progress on a corporation, country, etc...
...This will be accomplished primarily through the new corporate strategy for foreign "aid," whose two principal features are: first, a return to more direct control over the aid apparatus by the private sector, as indicated mainly in the creation of the Overseas Private Investment Corporation...
...More important, many corporations have been weakened by the current economic crisis in the US...
...they too would have good uses for the information in our study...
...the U.S...
...Our understanding of the most recent developments in U.S...
...5) in the name of strengthening local capitalism, there is a major push for creation of Latin American capital markets through which U.S...
...The only real difference is that the aid agencies will lose their last shred of accountability to the American public: whereas the bilateral AID programs were subject to at least nominal public review through Congress, the multilateral agencies are virtually immune from such scrutiny and pressure, and accountable only to international financial interests...
...imperialism in Latin America...
...lawyers and bankers...
...4. Contracts with and concessions granted to foreign interests...
...investment) - financial interest groups (e.g., Rockefeller, Mellon) - government or international institutions subsidizing or protecting U.S...
...Intl...
...investors (e.g., World Bank...
...b) Within the U.S...
...NACLA-West will provide all participants with a list of project participants, their addresses, their areas of study, etc...
...The long-range contradictions and instabilities in this "solution", however, have already been revealed, for example in the radicalization of key groups in Latin America by the counter-insurgency and accompanying repression, and the loss of legitimacy by the collaborationist and dependent bourgeoisie and its consequent inability to maintain Latin America within the orbit of the international capitalU.S...
...corporate elite worried...
...In other cases, participants will have to choose a new topic...
...hegemony came from armed guerrilla movements, and from the Cuban people and government, dedicated to building socialism...
...in Yanqui Dollar, p. 18...
...plant managers...
...St...
...Orleans) Pan American Ariways (NY) Western Intl...
...Motivating this shift to multilateralism are: the desire to spread the cost of maintaining the third world safe for private foreign investment, to share the risks of foreign investment with other advanced capitalist nations, and to coordinate strategy and minimize conflict with those nations...
...The counter-insurgency had its short-range "successes" in effectively overwhelming guerrilla movements in some countries by sheer force and napalm tonnage...
...Business Machines (Armonk, NY) Xerox (Rochester, NY) Procter & Gamble (Cincinnati, Ohio) Chemicals Celanese (NY) American Cyanamid, (Wayne, NJ) Dow (Midland, Mich...
...An "area" would be chosen from one of the following categories: - specific corporations (their operations in the U.S...
...Trade Structure (exports and imports) a) with which countries (in percent and by country, and, if possible, by corporations) b) what commodities c) special commodity agreements for major exports d) strategic importance (of exports or imports) 15...
...City Bank (NY) Kuhn, Loeb (NY) Lehman Brothers (NY) Loeb, Rhoades (NY) Manufacturers Hanover Trust (NY) Morgan Guaranty Trust (NY) Wells Fargo (San Francisco) Royal Bank of Canada (Montreal) Bank of London & South America (BOLSA) (London) ADELA (Luxembourg J. Henry Schroeder Banking Co...
...h) loans to government officials, other forms of corruption 5. How it Makes its Money a) gimmicks b) profits as percent of investment (rate of return) c) pricing practices d) stockpiling and dumping e) subsidization f) monopolization g) tax write-offs and depreciation h) special privileges (tax, import duty exemptions,etc...
...c) a mailing every 2-3 months, sent out from NACLA-West to all project participants, answering general questions, giving progress reports, etc...
...investment in a particular country...
...d) exchange rate restrictions e) degree to which government policies favor foreign investment (and private investment in general...
...Tel...
...OPIC's personnel, structure, and programs are specifically designed to stimulate "aggressively" the flow of U.S...
...imperialism, and areas of consensus and conflict among them...
...San Francisco) Standard Oil, NJ (NY) Texaco, (NY) Continental Oil (NY) Manufacturing & Merchandising (Mixed) American Standard NY) Continental Can (NY) Kodak (Rochester, NY) General Electric (NY) General Tire (Akron, Ohio) Goodyear (Akron, Ohio) Koppers (Pittsburgh) North American Rockwell (El Segundo, CA) PPG Industries (Pittsburgh) Radio Corp...
...Attitudes of various sectors of population to foreign investment...
...By the end of the 1960's, then, the very programs designed to protect and stimulate U.S...
...2) some corporations are going into joint ventures--although many U.S...
...c) import-export duty exemptions for foreign investors 7. Foreign Exchange effects (balance of payments) a) examples of specific corporations' effects on balance of payments b) profit remittances (gross figures) c) investment inflow (gross figures) d) export earnings 8. Employment effects a) overall or by economic sector b) salaries (and compare with local companies) c) degree of unionization (and compare with local companies) d) degree to which unionized by AFL-CIO vs...
...investors are busily casting about for new forms of protection against the risks from nationalism, and for new ways of codifying and enforcing the "rules of the game" and penalizing those who violate those codes...
...ruling class to cope with and "adapt" to changing conditions in LatinAmerica -- without altering basic structural relationships...
...Mining (NY) Intl...
...millions f) year of investment entry g) ranking by size in economic sector and/or percent of market controlled h) location or operations i) number of employees j) product or service k) nationality of managers 1) percent of raw materials imported m) internal and external loans n) profit remittances o) amounts paid in salaries (broken down, if possible, by categories of employment) p) total assets and liabilities q) other relevant data 13...
...c) specific information on the operations of particular corporations and institutions that serve them.- 27 - Outline for the Study It seems to us that the most appropriate way of organizing the project would be for participating individuals or groups to choose a specific area for study...
...i) (see bibliography section under corporation information checklist...
...f) has the country signed an investment guarantee...
...Particularly in these cases, it might be a more valuable experience to do the study with a group of people, rather than as an individual...
...have created new openings and possibilities which, while not in themselves revolutionary, are at least destabilizing...
...4. Involvement in Politics (how the interests of its owners and major beneficiaries are translated into public policy) a) campaign contributions b) lobbying efforts c) which congressional bodies, regulatory agencies, etc...
...Other sections deal with the history of the U.S...
...who are major clients) e) suppliers and subcontractors (who supplies raw materials, components, transportation, other services) f) major competitors g) who has sued it and why h) to whom does it pay taxes (or evade them) i) public facilities used (electricity, water, roads, railroads, potts, sewerage, etc...
...Use of publicly financed infrastructure: including industrial parks, free trade zones, roads, ports, power facilities, communications networks, etc...
...Since the Cuban Revolution the principal threat to hemispheric "stability" and U.S...
...Indicate year for which information is valid...
...8) certain key nations, principally Mexico and Brazil, are being cultivated as "sub-imperial" powers, able to trade with, invest in and police (hence stabilize) the weaker neighboring countries--e.g...
...Hotels (United Airlines) Sheraton Hotels (IT&T) (NY) Utixlities Canadian Intl...
...Nickel Co...
...corporations would never take--while simultaneously earning a healthy profit for its corporate shareholders...
...We will approach foundations and other possible sources of money, but we need your cooperation--your contributions, your suggestions about other sources of funds, and/or your own initiatives in raising the funds...
...Take the Andean Bloc's Code on foreign investment, for example, which attempts to redefine those rules...
...Some of these stem from the current situation and changing conditions, both in Latin America and in the United States...
...specific (and particularly controversial) information should be footnoted...
...Bibliography a) books, magazines, newspaper articles b) doctoral dissertations c) congressional and government investigations or hearings d) directories, encyclopedias, etc...
...General Motors (Detroit) Intl...
...Minerals & Chemicals (Skokie, Ill...
...Four months later--by December, 1972,-a second and more or less final draft could be completed, mimeographed, and circulated to all project participants...
...The Alliance for Progress was even less effective at stabilizing the hemisphere for imperialism, insofar as its rhetoric awakened hopes it could not possibly fulfill, and insofar as all of its schemes for protecting U.S...
...second, a shift from bilateral to multilateral aid (mainly through the World Bank), in response to the changing needs of the U.S.based multinational corporations, and of the U.S...
...King Ranch PepsiCo (NY) Quaker Oats (Chicago) Ralston Purina (St...
...Reflecting the hesitancy and vascillation characteristic of the national elites in this first assertion of independence, the Code opens up a whole host of uncertainties for foreign investors: in certain sectors they may have to sell 51 percent of their stock to nationals--unless, of course, the "escape clause" or one of several loopholes is invoked...
...State Dept...
...Orleans) Conglomerates W.R...
...Railways of Central Amer...
...investors in Latin America has commissioned a major study of "The Contributions of US...
...investment have in some respects created less favorable conditions...
...Second, the corporate voice itself has become more strident in justifying its Latin American operations...
...This study presents an opportunity to utilize and apply our skills and training and our privileged access to certain types of information...
...Invisible" or virtually immune to criticism only a few short years ago, today they are under scrutiny and attack everywhere--on campuses, in factories through the media, even in their own annual stock holders' meetings...
...This, by the way, is the meaning of the recent Senate vote to "end" foreign aid: it fits well into the new strategy of multilateralization, in that it hastened the end of the unpopular bilateral programs while not affecting U.S...
...history...
...They are faced in that region with a situation best summarized by Eric Hobsbawm in a recent article:* In such regions [as Latin America], as in earthquake zones, the ground may collapse almost anywhere...
...Meanwhile, within Latin America, there are new openings and possibilities which, while not in themselves revolutionary, are at least destabilizing...
...investors and, finally, the effects ist system...
...We expect that most participants will choose to study the operations of a particular corporation or U.S...
...rentiers...
...These openings are obvious in such events as the election of Allende in Chile, and the attempt of the Andean Common Market nations to impliment a set of rules restricting foreign investment...
...Monsanto (St...
...The tentative schedule for the project is the following: Participants should plan to complete a first draft of their study within 8 months--by September, 1972...
...In this sense the Senate has been the (perhaps unwitting) agent of its own loss of authority in the area of aid...
...In the end they are dependent upon the willingness of Latin American governments to comply with their "rules" and they cannot positively prevent the rise to power of "irresponsible" governments which simply refuse to play by those rules...
...There are many reasons...
...a) subsidiary name b) parent name c) percent equity held by parent d) parent nationality e) investment in U.S...
...as well, those same multinational corporations face certain challenges...
...c) In response to the instabilities and expressions of nationalism in Latin America, to the setbacks sufsuffered by the U.S...
...Specifically our efforts at this general meeting would center around: developing a general analysis of U.S...
...One indication of this need was the resolution presented by Chile and Cuba at a recent U.N...
...Some of the main relevant aspects of the current situation are the following: a) Within Latin America, various coalitions of the working class, intelligensia, nationalist military, mobilized peasants, radicalized priests, etc...
...Please use the attached form to indicate your specific commitment to the project, and to give us your comments on the proposal.- 28 - Questions About Countries 1. Historical development of foreign investment (amount and sector penetrated), and how foreign investment has affected the country's historical economic and political development...
...One means of choosing a topic might be to study a corporation based in the city where you live: this would enable you to hook up with labor and other groups already organizing around that corporation...
...corporations to switch from outright majority stock ownership to operational control over capital, through sophisticated financial and managerial structures...
...The most feasible answer seems to be: a) direct communication and information-sharing among participants...
...h) publications aimed at U.S...
...and in Latin America) - economic sectors or undustries (e.g., oil, banking, pharmaceuticals) - specific countries (all aspects relevant to U.S...
...NY) Kennecott Copper (NY) Lone Star Cement (Greenwich...
...More important, these developments have- 24 - called into serious question precisely what is most important to foreign investors: certainty about the future and long-range stability...
...CN) Marcona (San Francisco) National Lead (NY) Phleps Dodge (NY) Texas Gulf Sulphur (NY) U.S...
...b) Relationship with foreign investors: junior partners (where formerly senior partners...
...in Southeast Asia and to economic pressures within the U.S., American corporations have become increasingly concerned about preserving their position in Latin America...
...Even in countries such as Argentina, the ruling elites are on the defensive against constant challenges...
...identifying principal financial interest groups which direct U.S...
...corporations at least temporary headaches...
...private capital...
...Yangui Dollar is available for $1.00 plus 25c postage...
...Steel (Pittsburgh) Kaiser Industries (Oakland, CA) Falconbridge Nickel (Toronto) Englehard Minerals & Chemicals, (Newark, NJ) Reynolds Metals (Richmond, VA) Oil Belco (NY) Atlantic Richfield (NY) Gulf (Pittsburgh) Mobil (NY) Standard Oil , Calif...
...investment in Latin America, has launched an extensive public relations campaign to counteract what it calls "misconceptions" about the effects of foreign investment in Latin America and to answer the growing number of critics...
...The dual U.S...
...b) its rank within the industrial sector c) crucial factors of production in that industry d) degree of public subsidization e) main suppliers and consumers (markets) f) control of technology g) capitalization (how the corporation and the industry use capital, and where it comes from) h) history: why it went overseas, how it got into the country (whether by buying out local firms, etc...
...A thousand mile march is begun by placing one foot in front of the other...
...2. Its Structure and Operations a) degree of monopolization, cartelization, etc...
...imperialism in Latin America can become a crucial weapon in the anti-imperialist struggle...
...imperialism...
...In the past, the monopoly of the ruling class over the principal media and sources of information has enabled that class to feed the American people a one-sided view of U.S...
...For many of us this will be a new kind of research experience--not only with regard to its collective and coordinated structure, but also with regard to research methodology...
...and writing style should be simple and direct...
...government and international aid agencies in aiding and comforting of these investments on Latin America...
...corporations would sell stock in their subsidiaries to the public--in fact dispersing local participation over a larger number of shareholders, thus enabling the parent corporation to retain effective control with a lower percent of the voting stock, while simultaneously appearing to "go national...
...government (esp...
...a feeling that the multilateral apparatus will be more effective and a less easy target for nationalism than Uncle Sam...
...Why, then, undertake at this time a major critical study of the nature and effects of U.S...
...Louis) Stauffer (NY) Union Carbide(NY) Paper & Cellulose Crown Zellerbach (San Francisco) Intl...
...Everyone is convinced of the inevitability of fundamental changes, most people of their necessity, though not always of their desirability...
...b) occasional articles in NACLA's Latin America and Empire Report...
...see "What is a Favorable Investment Climate...
...d) underwriters (main investment bank) e) transfer agent and registrar f) law firm g) insurers h) pension fund managers i) directors and their interlocks and other interests j) officers and their interlocks and other interests k) capital structure (equity, long-term debt, shortterm debt, etc...
...of America (RCA) (NY) Rheem Mfg...
...It is pointless to look for guaranteed forces of "stability" or "revolution...
...and abroad: a) stock ownership b) bond ownership c) creditors (banks, insurance companies, etc...
...The extent of NACLA's role as project coordinator and facilitator will depend greatly on the amount of funds raised for the project...
Vol. 6 • January 1972 • No. 1
