The Hutchinson News from Hutchinson, Kansas on October 3, 1971 · Page 39
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The Hutchinson News from Hutchinson, Kansas · Page 39

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Hutchinson, Kansas
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Sunday, October 3, 1971
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Page 39
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Hutchlnson News Sunday, Oct. 3, 1971 Page 7 3 (Hutchlnson News-UPI Telephoto) THE HARD WAY — Little Loree Eisaman, of Kerryille, Texas, isn't the smoothest dancer iu her dancing class but she's trying. A broken leg and cast 'make it pretty hard to point your toe,' Loree says. International Firms Continue to Grow BRUSSELS (AP) - Some of them have bigger incomes than a country the size of Norway or Austria—and as much influence on world affairs. They pride themselves on being good citizens wherever they go. They contribute to raising the standard of living all over the world. Especially in recent years, they have been doing more than national laws requre to provide housing, transport, recreation and social services—as well as good pay and working conditions—for the millions of people they employ. Suit Themselves But, like any businessmen, they act in their own interest. They hire, fire, build, tear down, import, export, lend, borrow, transfer capital, pay divi- Peru Slow LIMA, Peru (AP) — The mil itary men who took over Peru' government three years ago vowing to build a new station are ruling in a style that defie traditional labels. But recent steps Indicate that economic problems are requiring the "revolutionary" government to moderate its ways of carrying out programs of sweeping reform. Increased efforts are being made ,to attract . foreign investors, wary of steps designed to end what the military government has described as Peru's 'traditional depend ency on foreign companies. The military leaders who expropriated U.S.-owned International Petroleum Co. declared recently an "open door" policy for foreign firms wishing to participate in a vast search for oil in the Amazon Basin and offshore areas. The government has signed exploration-development contracts with three U.S. companies calling for an even split of oil found. Other foreign firms have applied for contracts with similar terms. Efforts also are being made to interest foreign investors in the mining industry, which provides more than half Peru's annual income. It has been hurt seriously by strikes and failing copper prices on the international market. dends and arrange their tax liabilities to suit themselves and not to suit governments. As a result, they help to jring about monetary and other irises, but are not much affect- id by them—nor by the solu- ions. "They" are the great mul- inational firms—someone has called them "cosmocorps"— ike General Motors, International Telephone and Tele- jraph (IT&T) and thousands of others not so big. Americans own the stock in the big bulk of ,hem, though by no means in all. Shell, one of the biggest, is British and Dutch. About 8,000 U.S. firms have set up foreign subsidiaries since World War II. Many of them operate in 50 countries and some of them have 40 per cent of their employees outside the United States. According to some forecasts they will be producing about a third of everything manufactured outside the United States by 1975. Their huge growth in recent years has been financed in two ways: —By the great outflow of American capital that has played an important part in recent monetary crises. —By the help of another young international giant that has also escaped international regulation: the Euro-dollar and Euro-bond market. Take a composite, simplified and imaginary firm: the "Excelsior Food Company," whose concentrated "Gritties" can be supposed to appear on most American breakfast tables, and on an increasing number in other countries. Private Investors The government of President .Juan Velasco also has/shown increasing evidence of desire to come to terms with the country's private investors, frightened by reforms aimed at granting workers part ownership of industry and a voice \n management. The military men on Oct. 3, 1988, sent an armored unit to the 'gates of the presidential palace, ousted the elected president, Fernando Belaunde, and Installed a gdvernment of generals and admirals. Governments Competed Excelsior does not exist, and there is no existing firm that resembles it. There is no such breakfast food as Gritties. But the business operations described here are characteristic of multinational firms, although many do not engage in one or another of them. Imagine Excelsior as a small American firm: small, that is, compared with General Motors but still employing thousands of people. To get an idea of the multinationals' impact on world affairs, multiply Excelsior's activities by the 8,000 others. Excelsior has built a Gritty plant in Ruritania, rather than i n neighboring Belgravia. Although many Ruritarians and Belgravians resent Americans buying up large sections of their industry, and their two central banks are tired of holding so many dollars, the two governments competed hard to get the plant. Foreign investments in a country promote its growth, stimulate local business, create new jobs. Local authorities in both countries offered a 10-year exemption from real estate taxes, but the Ruritanian finance minister promised a break on the corporation tax as well. There was no question of bribery. It was just good business on the firm's side, and good politics on the minister's side. In time, Excelsior will earn a million a year from the Rurita- nian operation and send a good deal of it back to the United States. .But it will be some years before the total of repatriated dividends equals the original investment. Meanwhile, the U.S. balance, of payments goes further and further into the rerf 2-DAY SALE SHOALS I BIGGEST SAYINGS OF THE WEEK! BIG VALUES ON SALE TODAY AND TOMORROW ONLY AT WELLES! BOTH BBS OPEN TODAY 12 NOON TO 7 P.M. WELCOME BANKAMERICARD. DEPARTMENT STORES 17th and Lorraine OUTDOOR TV ANTENNA 199 REG. 25.97 For black and white or #LC39CMKID color sets . . > pulls in ex- and treme fringe areas. Com#LC #SD9. P'ete with all hardware. UHF/VHF or UHF/FM. INDOOR TV ANTENNA REG. 6.99 All channel chrome plated UHF/arms with 6 position switch, lead-in wire. UHF/VHF type, 4.99 LISTERINE ANTISEPTIC QUART SIZE Compare and save! 'Kills germs by millions on contact. For bad breath, sore f throats, minor cuts. h l i enerdent TABLETS » iM»ivi»witttiiMii»M»umt* f "EFFERDENT" DENTURE CLEANSER TABLETS PACKAGE OF 40 Effervescent cleansing action cleans deep stains & leaves dentures odor free . . . Individually ' v l wr?->ped. S}1| 12 PACK Of 12-OZ. 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BOY'S DUNGAREES ARE WASHABLE REG. 97? Most popular flares or straight leg jeans in navy or assorted colors. Sizes 3 to 8 perfect for this Fall and Winter. Stock Up! ADMIRATION 1 SIZE PANTY HOSE REG. 1.29 Admiration one size miracle fit panty h/>se in 10 different shades. QUEEN SIZE PANTY HOSE REG.1.89 1.39 For you taller, fuller figure- gals these sheer panty hose in 3 proportioned sizes. Suntan, Beige or Coffee. WOMEN'S NYLON FALL SHIRTS SPECIAL PURCHASE! 2.66 Recharge your wardrobe with these good-looking zipper or button placket front shirts. 2-pockets, long sleeves, 32 to 38 in white or colors. o. MEN'S CORDUROY PANTS FLARES! Groovy 4-patch pocket styles with sailor- type button trim fly-fronts. Many, many colors and other- styles. 28*38W and 28-34L '_• K m Save 30% DUPONTORLON SAYELLEYARN REG. 1.314 Radiant colors that wash like a dreaml 4-ply yarn in 4-ounce skeins completely mothproof. MEN'S DRESS SHOES Leather-like vinyl plain toe strap buckle) slip* on with PVCsoIet, Colors, 7*12. QUILTED COTTON PRINTS New and exciting quilts for pants, long skirts. 100% cotton facing and backing. 44-45 in. widths. REG. 1.97 1.68 Save COTTON MUSLIN PRINT SHEETS 72x108 or Twin Fitted 1.97 81x108 or Full Fitted ....2.77 Pick of 2 Pillow CUM...1.67 Saucy Daisy print of- sturdy 130 thread count 1 quality for long service and beauty, j>. l^r #1

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